There is certainly no replacing Davante Adams--the best wide receiver in football. And admittedly, there is now a massive void at the wide receiver position. But in making the trade, the Packers gained the flexibility to address that need as well as to better round out the rest of the roster.
In terms of the salary cap, this is a very top-heavy Green Bay Packers roster because they have so much high-end talent that has to be paid. The league-wide salary cap this year is $208.2 million, and prior to Green Bay trading Adams, their six highest cap hits in 2022 accounted for $96.