The potential upside of a deal like a loan for Pezet and getting a forward in return for Hunt is pretty high, and there isn't much downside.
The way I look at it there are no quality halves replacements for Hunt out there that are realistic bar Pezet. Players like Boyd, Illias, O'Sullivan, etc are no where near good enough no matter how we dress it up. Pezet is potentially one of the better halves of the future and will do a better job than others mentioned earlier whilst we search for another replacement with the added bonus of an extra year or two to do so. With the way Hughes is playing at Melbourne there is no reason currently they won't re-sign him. Pezet wants an option in his contract to leave Melbourne if Hughes is re-signed. If that eventuates, we would be in the box seat to keep him.
In the meantime, on a permanent deal, we have the potential to land a very good middle forward in exchange for Hunt. The loan + swap solves one issue longer term, and two issues short-term.
It's basically a guarantee you won't get the rewards you're looking for by doing a deal for Illias, Boyd or the like. They just aren't good enough players, which is why I wouldn't waste time there. Pezet improves us immediately, with the possibility of having him longer-term if Hughes is re-signed. If he ends up back at Melbourne after a loan, we would've been better off having Pezet for one/two seasons than having an Illias, Boyd, etc playing half because we then have more time to identify, talk to and recruit a better half who would be more likely to join us due to better play style and results with Pezet as opposed to the results that would be achieved with the other options in our halves.