While I'm not a big Gay fan. You still traded a talent good enough to be top 3 on any team for a role player with exactly one offensive skill. And it's not like that move led to more signings and more moves that made their team better. Arguably the Rockets' least significant and talented years were the years that Shane Battier was a Rocket. Early McGrady/Yao years and the 2012-2013 iteration of the Rockets is leaps and bounds better talent wise than most of the years Shane Battier was there. (although they did make the second round finally that one year)
And since Morey basically made Houston one big revolving door during his tenure, I don't give him credit for much of anything. Develop Aaron Brooks, trade Aaron Brooks for Dragic, Bench Dragic. Let Dragic Leave, re-sign Aaron Brooks. Same script for Jeremy Lin. Let Artest leave, Sign Ariza to take his place, Trade Ariza. Draft Budinger, Trade him. Develop Lowry, let him leave.
While it's clear this Houston team has talent, I wouldn't be surprised if everyone but Harden was gone in 2 years, and then brought back, and then traded, etc.