I don't think any of them should be willin to take a pay cut. However, the Wolves have rolled the dice before they absolutely had to. Wiggins had another season on his rookie deal. If he knows he has to get better to earn the max deal, then why not 1) see if he does, and 2) see how the trio of KAT, Butler and him play together? For better or worse now, this is their core for the next few years. And they committed to it before they had to.
And I don't know if there's another player they could have landed with as much potential and upside as Wiggins, but there were certainly players available in free agency who are better right now and conceivably would have been better fits alongside KAT and Butler. Gordon Hayward comes to mind. And there might have been some teams with an eye toward the future who would have given up proven All Star talent to acquire Wiggins.
But like I said, we all beat this horse to death a long time ago. You Wolves fans have endured a decade of **** basketball, and I sincerely hope this all works out for you.