He's been placed on wavers which is slightly different - he is still part of the G league roster and is entitled to the bonus if he stays. I believe the only reason to sign an Exhibit 10 was to have a crack at a spot during the camp, with this now out of the question he should move - go Europe or even come back to the NBL.
Also seems some 'knowitall' here really know who is and who isn't an nba level, whatever that means. Plenty of Aussies at 'that' level with 2-3 really making any meaningful impact. Kudos to them for making the buck but being a benchwarmer in the nba doesn't make one a better player than someone who is currently in, let's say, the nbl. It's all about perceived potential and opportunity, there's only limited number of spots. So instead of petty comments we should actually congratulate anyone who keeps chasing their dreams.