Not really. Shooting percentages and save percentages can run to extremes, particularly over small samples. The Canucks are scoring at greater than a 15% clip right now. Even the Oilers only finished last season at around 12% (which is where the top teams each season usually land). This Canucks team does not have 3% better natural shooting talent than the Oilers team from last season. And Demko and DeSmith just are not collectively going to save 93.6% of the shots the rest of the season. This article has a pretty good example of how PDO is something that normalizes close to 100 for most teams in the long run:
The Canucks are the NHL’s most surprising breakout team. Can it last?
Ugh. I can't say this enough times. PDO is not a proxy for "luck". If bloggers say it enough times, it becomes conventional wisdom, but it doesn't make it correct.
Wanna guess which team had the highest PDO last season? Boston Bruins at 1.040. Wanna guess which team had the best record last season? Boston Bruins. Wanna guess which four teams had the worst PDO last season? The Sharks, Blue Jackets, Ducks and Blackhawks. Wanna guess which four teams had the worst records last season? The Sharks, Blue Jackets, Ducks and Blackhawks.
Explain to my why 13 of the top 15 teams in the league had PDOs >1.0 while the 12 of the worst 13 teams in the league had PDOs <1.0.
Was it luck?
You might think, what's the difference between a PDO of 1.010 versus 1.00? It's just 1.0%, right? That can't mean anything, right? Being that a team takes ~2300-3000 shots in a year, that 1% results in a difference of 23-30 goals. That's the difference between a good team and a mediocre team. Every playoff team last season except the Panthers had a goal differential of +20 or more.
Season after season PDO is strongly correlated with point percentage. It's not rocket science. You can look it up yourself.
Yes, the Canucks' PDO is absurdly high in 12 games this season. It doesn't negate the fact that they have been really good at outscoring their opponents. That's what PDO measures. How good you are at putting the puck in the opponent's net and how good you are at keeping it out of your own in one simple number. It's also how you mostly win games.
PDO is really useful. It tells you how good a team has been. You can calculate it yourself, there's no hidden formula. It's. Not. Luck.