The Wizards want two players and two draft picks in return. That is a hefty price tag for Beal but he is one of their best players and only 25 years old. If I were the Raptors, I would make sure to give up less than that.
Toronto is playing great and have some of the best role players in the league. They should not break up the chemistry the team has by trading some of them away. But it all depends on how good the Raptors think they are at the moment.
Winning the Eastern Conference won't be easy. The Milwaukee Bucks are surging and a big threat to the Raptors. If they want to beat them, I do think they will need to upgrade their roster. The main problem is that Kyle Lowry has been less aggressive this season. And that has created a vacuum that other role players have stepped up to fill but that doesn't always work out well.
Kawhi Leonard has given the Raptors a chance to make a deep playoff run and adding Beal would give them a second option. If the Raptors part ways with the right players, they can get better but it's a thin line. Nobody really knows what is going to happen if certain players are traded.
It also doesn't help the Raptors knowing that Leonard is a free agent after this season. If they trade their players and draft picks and Leonard ends up leaving, the Raptors will be in a difficult place next season.
This year may be the only year the Raptors have this good of a chance to make a NBA Finals run. That may be more than enough for them to gamble on Beal and see where that takes them.