I think that the reality is that trading star players rarely yields the number/quality of high draft picks that fans believe their team should receive. This is probably because fans often focus primarily upon the on-field performance of the players involved and don't look at the business side of the deal.
From the Colts perspective, obtaining someone like Mack would unquestionably be a big boost to the defense. On the other hand, since he's holding out, as a practical matter it will also require the Colts to pay Mack full (or close to full) market value (i.e. $15M-20M or so). So really, Mack's value is should be something like: Mack = ($15-$20 million) + (what draft picks?).
Also, Mack's trade value is lower because he can be a free agent after the season, so conceivably could leave if he's intent on doing so like Kirk Cousins (albeit it's possible the team could use the franchise tag and pay him even more).
There's also a PR component to all of this, as I think the Raiders would need to get enough of a return so that they could save face with their fans.
The bottom line is that when and if Mack is traded, I think it will be for less than most fans expect.
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