That bottoming out helped immensely, I don't think they win without Makar.
They have half a team of UFAs, and no goalie (theirs sucked anyway, so who cares), they have traded a lot of futures and their top prospects.
I think they go at it again once more next year, all in with what picks/prospects they have left before they have to resign Mac, Byram, and Newhook.
Looks like they have 25 million to sign a goalie, 1D (can be the #6), and an entire second and fourth line.
Notable players who need a new contract for them - Kuemper, Kadri, Lehkonen, Burakovsky, Nichuskin. That alone is likely over 25 million and they are still in need of a D and at least 2 more forwards.
Having said that, they are a good team, and good teams need to make tough decisions based on the cap.