Per Baseball Savant, Josh Bell's wOBA was .323 last season (.345 xwOBA). Cody Bellinger's wOBA was .370 last season (.327 xwOBA).
In other words, based on their batted ball metrics last season, Cody Bellinger's stat line should have looked an awful lot like the "washed" Josh Bell's actual line. And Bell's line should have been better. Yes, Bellinger is the better player due to his defense and baserunning, but in all likelihood we aren't talking about drastically different bats here.
Now, I'm not out here banging the drum for Josh Bell. But if his bat recovers to where we'd expect, he'd be worth near the value of his contract, but not the full value. It's not like taking him on is the equivalent of taking on a massive dead-money contract, such as Strasburg. It's probably more like $6-8M. You don't get Luzardo for peanuts by taking that off their hands.