Thinking of the ABO, it's not even the best way to dump and burn a bad contract.
It's the 2nd best way to do that.
IMO the best way to get rid of a worthless or overvalued contract is to eat it up with a 1yr BO if you have the cap or trade it to a team that has plenty of cap space to eat it end of yr just before contracts rollover so nothing's left on the books.
ABOs stick through the life of the deal which sucks even if it's a 40% BO.