The Blues need to play over .600 hockey for the next 30 games just to be in the wildcard mix at the deadline. Not out of the question, but even if they do it, that's still trade+retool zone. They'll have to be one of the two best teams in the conference between now and March 3rd for Armstrong to be able to justify buying or standing pat.
I'm basically with you in that I think they absolutely can squeak in (and continue to compete over the next couple seasons), but they still have to be sellers this year.
The 2nd wildcard spot is currently at an 89/90 point pace. I think we typically say the average is 92-95ish, but some years will be less, the Wild had 87 a few years back and made it, and other years you need the upper 90s to make it. I think the tough part is that if the current top 3 in the Central maintain their reasonable paces, they are probably too far out to catch, and even if we do, we are playing at a ridiculous pace where we are obviously not selling at the deadline. The current 1st wild card is Colorado, and once they get MacKinnon and some other healthy, they'll be back at a high-end pace, so I really only see 1 spot up for grabs at the moment.
That spot will come down to us, LA, Seattle, Edmonton, and Calgary. I'm not even going to bother trying to project the 2nd and 3rd Pacific finishers, and the last wild card spot. All of these teams could either go on a really good stretch or just fall off and look like a lotto team.
If we do recover and are fighting for that spot and look decent, I could see us only making 1 unspectacular move, instead of ROR and Tarasenko. My worry would be an extension for O'Reilly because even today, I have no idea what contract I'd feel comfortable giving him. His offense is down because of losing Perron, and an even more defensive usage this season, but at the end of the day, we don't know how much is driven by that and how much is driven by a potential decline.