If I am a devils fan and for my cap space I get a late 1 and 2 rentals on a team not going to the playoffs i wouldn't be jumping up and down.
I don't mind that part of it. I mean, we have to spend some money, and securing 1st round picks and flipping rentals is at least something.
The problem for me here is that this doesn't provide great value. We are taking 10 million in space for a late first. If you use Marleau for the barometer, in a different economic situation, the cost was a first for what, 6 million? So this value kind of sucks from a buying draft picks stand point, though in a vacuum, I'm perfectly okay with buying prospects & picks and would strongly support that action given where we are at right now.
You may get more at the deadline for flipping them as rentals, but it won't be a ton more (likely mid round picks while retaining 50%). Their actual play holds no value to me as a Devils fan because as you said, we aren't going to the playoffs and what they do while in a Devils uni means absolutely nothing, so I can't factor that into the value equation.