The team should just continue to play hard, and Casey should continue to give minutes to the youngsters. This year is about development. Competing for a playoff spot would also be quite invaluable for Bargnani, Derozan, etc., helping them to become better players in the future.
The team, however, should explore dealing any players they don't consider to be part of their long-term future, such as Barbosa, Butler, etc. Accumulate draft picks as much as possible, as this year's draft should be extremely deep.