I don't think it's over because none of the teams that we would have to leapfrog for a WC spot have really distinguished themselves either. FL made it with 92 pts last year. Having said that, I don't think it really matters because we're not going anywhere even if we do make it. Just more kicking the can down the road for what is going to be a very long rebuild given our probable draft position going forward, the state of our prospect pool and our farm system.
Realistically it really is. From an advanced metrics perspective, the Islanders are currently closer to teams like the Blackhawks and Sharks than 7/8 of the teams currently holding Eastern playoff positions.
Detroit seems like the only Eastern playoff team that's even remotely near the Isles here. And that's offset since our powerplay units are relatively even, but they outclass considerably in PK skill. They have both the special teams advantage and generally overall better 5-on-5 play.
To put it in another perspective, the Islanders have the 6th-worst goal differential in the entire league. The only other so-called other Eastern playoff contender who has that is Washington (who isn't making it in either). No one else comes even close.
Not to be a party-pooper, but these are the teams the Islanders belong with and not the ones realistically making the playoffs in the East.