I do agree that the return feels light from Baltimore's perspective, although single relievers typically don't fetch a lot.
I wonder, how does Povich compare to Antoine Kelly (just traded by MIL to TEX for Matt Bush)? They look like the two best prospects traded for single relievers so far. They're both 22 year old lefties in high-A with good K rates; Povich has the better walk rate, while Kelly has been better a limiting hits and HR.
Another factor is Kelly was a high school draftee, so he will require a 40-man spot after the season even though he is still some distance from MLB. Povich won't require a 40-man spot until after 2024, which may help BAL protect some another prospect in the near future.
Could BAL have declined Kelly from MIL, preferring Povich from MIN? I like Lopez better than Bush due to age (and 2022 numbers), although both are controlled through 2024.