I agree that they have to see what the offers are in July. By then Latos may have a month of healthy starts, and be on the block himself. I really don't know what the consensus would be in other front offices about Cueto's long term outlook. Because when healthy he is a top pitcher in baseball, but I just don't know how highly he is viewed by other GMs.
I also agree that Broxton may bring a decent return if he can continue pitching as he is right now.
I don't see the Reds blowing it up as the OP suggests, nor do I think they need to. But a move or two to add to the nucleus in place, and free up some payroll could be something the front office should be looking to do going forward.