I get what you're saying but I also disagree. NYI came within one game if the finals, and if they get there they are probably favourites. The same goes for the 93 Leafs who Zeke likes to mock - they could easily have won the cup that year. Or look at this way, maybe you'd be saying the same thing about STL had they not won the cup but they did. Sometimes, teams that don't seem to have as much talent as some other teams just put it together at the right time and they win it all. It's also not easy at all to predict when it's going to happen. Like 93 for example, we didn't win but MTL did and were they considered to be a contender? The answer is no, isn't it? So it's all BS talk anyway, who's to say where to draw the line and say these teams are contenders and these teams aren't. Make the playoffs, get hot at the right time, maybe have a bit of luck as well and there a lot of teams who have shot at going all the way.
Anyhow, I just had a peek at the cup odds for the first time and there seems to be a clear top tier with 3 teams around +600. Then Toronto at +1000, CAR/BOS at +1400 and then we have NYI/MTL at +2000 followed by DAL at +2200. MTL makes me say that take all these numbers with a grain of salt but other than that they seem reasonable and would seem to indicate that TOR and NYI should both be considered contenders. On the other hand, we've been contenders for many years now and we all know, that doesn't really mean anything.