The positive way to look at this is that the team didn't fall further in the draft, as they potentially could have fallen as far as 10th.
It's hard to say whether or not the pick staying put increases or decreases the odds it gets traded. On the one hand, it is less valuable as a trade piece now. On the other, the team may be more willing to trade the pick for a second tier All Star now that it is less valuable.
Fortunately this draft is incredibly deep and most mock drafts have the Cavs taking either Michael Porter Jr. or Trae Young with the No. 8 pick. Both of whom appear to be great fits and to positions of need.