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While I agree with you on that being the most likely outcome, ideally Hundley has a solid preseason to increase his future trade value and either Callahan and/or Hill show enough that Hundley becomes expendable sometime before the end of the 2018 season when his rookie contract is up.
It seems like I'm in the minority here but I'm not keen on trading Hundley before his rookie contract expires at all as I think having a decent backup quarterback is important. In addition the Packers would most likely receive a third round compensatory pick if another team decided to sign Hundley as their starter during the 2019 offseason.