I agree - wouldn't characterize Hutchison as "nothing." On the other hand, I don't think we can characterize his 2014-15 as "really good," either.
Per B-R, the NL average ERA in 2017 was 4.29, WHIP was 1.351. AL averages were 4.38, 1.332 . ERA+ for both leagues was 101 (it's always 100 or 100, since it's basically a comparison to average). B-R doesn't provide league average FIP, so I can't cite those figures. Hutchison's 2-year numbers are marginally poorer than the league averages shown by B-R for 2017.
That said... again, I agree that he's not "nothing." As I think you agree, based on your post, he doesn't look like somebody that warrants pushing Lively (or Eflin) aside, particularly if that were to require exposing a prospect to waivers to free up a roster spot. He might make sense IF they really wanted Lively/Eflin/(Pivetta?) to get "more seasoning" in AAA, and IF they could add Hutchison without risking anything of value. But this kind of thing gets progressively harder to do, as your organization has more honest prospect talent that must be protected.
And by the way, I love "salvage" moves like the Werth acquisition (and the Eisenreich signing, lo these many years ago). But I don't see the evidence here that Hutchison is really in that category - that prior to the thumb injury, he was showing signs of being a real blue-chip player. His 2014-15 were serviceable for a back-of-the-rotation guy - but that's the definition of mediocre, not of blue-chip.