Honestly, I don't agree that most teams are getting better bang for their buck at D than the Blues are, but almost all the ones who are getting better value have done it by bridging guys and setting themselves up to either take a hit or pay the bill in a couple years. Let's look at all the playoff teams from last year plus Vegas as our sample of 'good teams trying to stay good.'
The Blues are currently spending $27.1M on the 7 D men on the roster. The top 3 combine for $19.5M and that number grows to $23.5M when you round out the top 4 to include Leddy.
The Lightning are spending $23.6M on their D this year. Next year Sergachev goes from $4.8M to $8.5M and Cernak goes from $2.95M to $5.2M. That will put them with $21.575M tied up in their top 3 guys. Unless they elevate Phillipe Meyers into the top 4 and rely purely on ELC guys for the bottom pair, their D is about to get much more expensive. They had to jettison McDonagh for basically nothing to accomplish this price point for this season.
Calgary doesn't have a single D man making over $5M right now. But Weegar was just extended for $6.25M a year and Hanifen is on the 2nd to last year of his (now) team friendly 2nd contract. Andersson is hitting the midpoint of his team friendly 2nd contract and Tanev/Zadorov both hit UFA in 2 years. Their D is either going to get way, way more expensive in 2024 or it will be blown up.
Carolina probably has the best value D in the league, but it is somewhat short-lived. $24.4M for their 7 man group. Everyone but Burns and Slavin comes off the books in the summer of 2024. Slavin and Burns come off the books in 2025 and Burns will turn 40 just before then. He probably won't age super well in the end, but they get great value for 2 years and then prioritize giving some guys raises.
Florida is only paying $11.7M for their D right now and that goes up to $18.5M when Ekblad is healthy. It's a cheap blueline, but it looks godawful without Ekblad in the lineup. Even with him in the lineup, I don't like their D all that much since they traded Weegar. It might be good enough in front of the goalies they have, but those guys certainly didn't come cheap.
Minnesota is spending $26M on their D. They currently spend $19.575M on theior top 3, but Dumba is a 28 year old UFA this summer, so that number is about to go up by several million dollars or their top 4 is about to get noticeably worse. They also have an additional $6.37M in dead cap from the Suter buyout (and that number will be $7.37 next year and the year after).
Dallas is getting good value at $22.9M for their D group, but that medium-term value will largely depend how long Suter can keep playing top 4 minutes.
Toronto is spending $23M on their 6 current D and Muzzin (who is on regular IR). Cheaper than our group, but I don't know about better.
The Kings are spending $21.1M on their D plus another $1m in dead cap from the Phaneuf buyout. Roy and Martin are both on their bridge deals and Durzi is on his ELC. Edler is on a league minimum deal and then you have Doughty's monster deal.
The Rangers got Lindgren to a nice $3Mx3 bridge deal and have Miller on the last year of his ELC. Their D is going to get noticeably more expensive over the next 2 years as those guys get their raises. They also have $3.4M in dead cap on D that they bought out in order to elevate these cheap players in the depth chart and I think that should be taken into account when you talk budget. All in all, they are currently spending $20.5M on their top 3, spending $27.5M on D when you factor in buyouts of past D men and have 2 sizeable raises due in the next couple years.
Edmonton is only spending $22.1M on their D group, but would you like to swap D groups with them? That is a hard pass for me.
Washington is spending just $18.9M on their D. However, I don't like the group at all and everyone except John Carlson is a free agent this summer. All those free agents except Fehervary are UFAs too.
The Pens are spending $24.85M on their 7 man group. They kept this number low by giving a 35 year old Letang a 6 year deal this summer to bring down that cap hit by a massive margin. They also brought in Jeff Petry who is under contract for 3 more years until well past his 38th birthday. I get it, they are all in for the last few years of Sid's contract. I'd fully mortgage the future if I were them too. But they have mortgaged a hell of a lot more than we have.
The Avs are spending significantly more than us on D. They'll get some relief this summer with EJ coming off the books, but Byram is going to get a noticeable raise even without arbitration rights. If they bridge him, they will have to deal with giving both him and Toews big, big raises in back-to-back summers and then they will wither be easily the most expensive D in the league or they will suffer 1-2 significant losses to the group.
Vegas is spending about $800k more than the Blues on their 7 D right now.
Nashville is spending more than the Blues on D. Their top 3 guys are all 32+ and signed for 4+ years. They combine to make $22.059M and that grows to $24.46M if you include their next highest paid guy (Fabbro, whi is an RFA with arb rights next year).
The Bruins will be spending noticeably more than the Blues once their actual top 4 is back in the lineup. Each member of their healthy 6 man group makes $3M+. Their top 3 make $20.1M long term and like us they spend noticeable assets to trade for a guy that they immediately gave a $6.5M AAV extension to.
I don't look at that summary and think the Blues are near the bottom in terms of contract efficiency and cap structure. We're paying more right now than a good chunk of teams, but we also have a cost-certainty over the next 3 years that most teams don't have. In year 3, we'll have two guys in their age 33 season, a guy in his age 32 season and a guy in his age 31 season. Those aren't ages of large concern to me. The contracts will absolutely start hurting beyond that point in time, but $23.5M on a pretty good top 4 for 3 years isn't terrible value. When doing this analysis, it is unfair to ding the Blues for what 2025+ will look like without also acknowledging that all these other teams are going to see their top 4 get fully blown up or get a hell of a lot more expensive than $24M at that point.
I wouldn't give Army an A for the way he's constructed the blue line since the Cup win. I fundamentally disagree with the death by a thousand cuts strategy on the back end in today's NHL and I think our lack of a true stud at the position hurts us. However, the group he has built is pretty impressive and it's not like we have any real negative value right now.