Let's look at some of the winners and some of the losers in the deal because, well, knee-jerk reactions are important.
Alex Smith: Smith didn't get his outright release, which would've been the best-case scenario, but he got the next best thing in a trade to Kansas City. He has a coach who wants him there, he's not dealing with a younger incumbent (like if he were dealt to the Browns or Jets) and he's in a relatively low-profile situation. He's also in a bad division. But struggling would put a ton of pressure on him going forward.
Trent Baalke, 49ers GM: Landed a stunning haul for a guy who was probably getting released anyway because of his salary and status as a backup quarterback. Baalke took the Niners -- already loaded with 14 picks in the 2013 NFL Draft -- and added No. 34 overall and a second-round pick next year. The rich get richer.
Luke Joeckel/Eric Fisher: Depending on which tackle you like more (I have Fisher creeping above Joeckel right now) you give them a notch in the W column, because they're a good bet to end up being selected with the No. 1 overall pick.
Darrelle Revis? There's no guarantee the Niners go out and get Revis (hence the question mark) but you have to like the idea of them doing so. That would be a boon for Revis, as he'd step into a situation where he could instantly chase a championship.
Patriots: It's widely thought they'd be interested in dealing Ryan Mallett, Tom Brady's backup who has seen minimal action on the field. Mallett fell in the draft two years ago, but he's got tons of upside and has been tutoring under one of the game's greats in Brady. The market price for another team's backup who could start just got bumped significantly.
Matt Cassel: An all-but-guaranteed release from the Chiefs just became an even bigger lock. Cassel is as good as gone and will get to hit the free-agent market. He might very well be the top option available on the market (I would personally prefer Matt Moore) ... so maybe I've got him in the wrong spot here?
Andy Reid: Reid just tied his career in Kansas City to Alex Smith, and he did so by giving up two second-round picks in exchange for a quarterback who's struggled during long portions of his career. Smith might fit what Reid wants to do, but if they give the guy an extension suddenly they close the door on developing a younger guy.
Geno Smith: Smith was the top option on most draft boards if the Chiefs decided to go in the quarterback direction and now he's almost guaranteed not to end up going No. 1 overall, barring someone being absolutely in love with him and trading up with Kansas City for the top pick.
Dwayne Bowe: Bowe's never had a high-caliber quarterback throw to him in the NFL, and that's not likely to change. Additionally, landing Smith and needing to give him a weapon to target means Bowe is a good candidate for the franchise tag ... again. That's not all bad news; $20 million guaranteed over two years is pretty nice. But certainly he'd prefer to hit the open market and see what it bears before he gets closer to 30.