Can't rebuild with Tkachuk and Barkov. They're too good to be a basement team, but don't have enough surrounding pieces to be a legit playoff team. No 1st's either to rebuild, their GM royally screwed them, said it last year soon as he made those trades. If they're actually going to rebuild you have to move Barkov/Tkachuk, obviously they just brought Tkachuk in long term so that's not the direction they want to head in.
For them to be successful they have 2 options IMO
Option 1) Full rebuild, includes selling Barkov/Tkachuk. Like I mentioned earlier, I doubt this is the path they'll take
Option 2) Sell some core pieces like Reinhart/Ekblad, but not for picks. Good young roster players or good prospects. A 1st is still going to be 3 years away from being an impact player
But what I realistically see happening is them being stuck in mediocrity for the next 3-5 years, borderline playoff team but if they make it they won't go very far. The trades last year completely crippled them. I don't see them being able to dig themselves out of this mess unless they go with option 1, which involves completely blowing up the roster, including Barkov/Tkachuk.