If, and granted this a big if, they think all of the "top 4" are basically risk adjusted equal, imo they would be doing the absolute right thing by by trading away the number one pick if they got some stupid compensation like one teams entire draft for the year and next years #1.
To paraphrase Marv Levy, Once you start doing things to placate fans, you might as well join them in the stands.
I was being facetious but I stand by my argument they would be well served to trade away #1 IF 1) they thought the top four were all about "the same" (highly unlikely) and 2) they get a kings ransom for it (which they would).