Well that is probably exactly what he expected, similarly to when Atlanta acquired Hawks legend Carmelo Anthony as part of a trade and then just waived him outright. There were some Hawks fans at the time a little pissed that Atlanta didn't try to get anything at all out of him, but the justification that came out of the team was basically: players and agents notice and remember this stuff, and the drama and loss of goodwill probably isn't worth a five-year-out 2nd round pick or whatever they would have gotten for Anthony at the time.
The problem for Iguodala seems to be that Memphis didn't think he was as worthless as the Hawks did Anthony. Maybe they thought a contender might give up a good pick for him at the deadline. And once Memphis made it clear to that they were going to hang onto him as a trade chip, then the professional thing to do was suit up and play while they worked it out. And now that Memphis turns out to actually be good then he just looks stupid.