Having seen the entire runs of the 1999-2007 Senators & 2006-2019 Sharks in real time, I will never call a core that wins the cup underachievers. Lost in 7 to that Sharks team in their last run of contention, lost to a hot Stars team that made the finals that year, and to a really good Vegas team in 2021 in their years leading up to their cup win. The Vegas series was the only one I thought they should've won but didn't. Then they had a dominant 2022 season from start to finish, culminating in beating the defending 2 time cup champ Bolts to win it all.
Having said all of this, their lack of playoff success since 2022 has surprised me. They looked like a great team who could go on a multi cup run, but in hindsight they might've won it just in the nick of time. Since then they've been a top heavy team without their supplementary depth in 2022, and not having great goaltending has caught up to them more as a result. They definitely make more of an effort to resign Kadri if they know replacing him as 2C would be this hard. Losing to Seattle in 2023 was really bad, last year Dallas was simply better, but this year losing to a shorthanded Dallas team was also bad. With the bigger load their two main superstars have to carry compared to 2022, it seems like they get worn down more as series go on due to how much Bednar plays them.
Their core is still absolutely young enough to go on another cup run. But with how MacFarland has mismanaged the team with his horrible asset management since taking over, 2022 could be in an in the nick of time moment.