You might recognize the difficulties and trouble caused by actually trying to tank, or you could double down.
Retooling is one thing, and dealing Nelson was a positive move. I don't know exactly what Palmieri would have gotten back, but seems likely that a 2025 2nd was the max. We don't know what else goes into this - like, what are the owners takes about retaining even more salary?
As it stands, the teams below the Islanders in the standings are significantly worse than NYI in D and G. Pelech, Pulock, and now Dobson is back, and he's hot. Romanov was sick, but he'll be back. NYI's D when healthy is pretty good. Like, miles better than Pitts, and it showed. And other teams are just really bad. And by that I mean the Bruins and Flyers. And the Rangers. Shesterkin save them from a blowout last night.
So, it looks like to tank properly, NYI would have had to decimate the D. Is that a good idea? imo probably not. But even if it were a good idea forgetting cap rules considerations, could NYI have done it without retaining salary for future years? I really do not think so, unless the move was to deal Dobson. And imo the trade deadline with him injured was not a good time to try that. There will be more trade opportunities at the draft - teams will have a good idea what cap space they'll have, and what their needs will be going into free agency.
Let's say NYI make the playoffs and lose in the first round. If Dobson shows well, and NYI decide to deal him imo the better returns you can get on a deal for him could easily outweigh the difference in draft position if they had a err.. tried harder to lose.
If NYI decide that they want to trade up and get their guy in the draft, they can reasonably do it with the assets they control.
Anyway, given the way NYI play and are structured the only way to make them non-competitive would be to incentivize taking penalties.