Why should he? He has probably just caught a rut.
Well, for one thing, he's 30 now.
Slowing down after 2 career years would be expected more than not. The question is how much will he slow down and how quickly?
I always projected him being elite for much longer and even when he falls off probably still being a top line or top 6 quality option.
But at the same time, the fanbase (well, management really) needs to realize that you can't count on a 30 year old to be the centerpiece of multiple Cup runs when your team hasn't even made the playoffs yet because your supporting players are still 20 years old.
Panarin is and always has been (or should have been) acquired as a hold-over while our kids develop, to take the pressure off them, to be their set-up man, and to then be an elite complimentary piece once the kids are ready. But instead the organization made the boneheaded decision that Panarin was going to be the leader of Cup runs and we had some sort of mandate to win right this second with him as our ace.
Except he was the best player in Columbus with a star goalie there and that didn't work out so well for them. Not sure why management thought it was a great idea to try to replicate that. Obviously the idea was to have a better supporting cast than Columbus, except WE DON'T HAVE A BETTER SUPPORTING CAST because it's still too young and hasn't developed yet, and by time it does Panarin won't be all-world Panarin anymore most likely.
It's why they NEVER should have rushed to try to "win while Panarin is elite." That won't work here anymore than it worked with Columbus. Every move should have been about bracing up to win more along the lines of Panarin's 5th-6th-7th years of his contract. It's why they should have traded Kreider for Robertson and a first. It's why they should have CONSIDERED trading Zibanejad. It's why Strome should have been moved for a first already, hopefully he will be at this deadline.
They needed to continue to stockpile and go all-in on Panarin plus an eventual core of Fox, Kakko, Laf, Shesterkin, KAM, Lundkvist, Robertson (from Stars), Schneider, and they should have moved heaven and earth to get some centers from their more recent picks... ie what they would have gotten from trading Kreider, what they should have targeted from a Buch trade (as Edge has suggested there were better value offers for Buch except we preferred the win-now acquisition of Blais), the absolute haul they might have been able to get for Zibanejad etc.
Yeah, there'd be no chance they'd be winning the Cup now, but they'd be absolutely loaded for the next decade.
Instead we are sitting here with no clear window for now OR later.