The things I like about Vatrano are his speed, his "shoot-first" mentality and his scoring ability. I'm not as excited about his defense, and he's mostly an even strength guy who is a bit undersized...with some time on an underutilized second PP unit.
I do think he's more of a scorer than his stats suggest, he was pushed down the line-up in Florida, and we've had some shortened seasons, but I do think he's probably capable of a 30 goal season. At 28, he should in theory be at his prime, and perhaps a couple more years of similar productivity at least.
If they were to re-sign him at or around the $3M range, then I think that's a tradeable contract, and given that they can't afford both Strome and Copp, there's going to be still room for Kakko or Lafreniere (if he can make the right win work) both to be in the top six. On the other hand, if they want to trade him at a later date, that contract should have some value to someone.
On the other hand, if he has a big playoffs...then that might make things more interesting.
As it stands now, I'd probably lean towards resigning him...but it will depend on the Cap situation and what other deals are being made. I'd probably look at how much it's going to take to re-sign Kakko, then Copp...and then Vatrano. Also have to keep in mind that the end of next season there'll be new contracts for Lafreniere and Miller to consider, so there's a lot to evaluate there.