The point that most are missing in this thread is the Caps are attempting to do both.
Whether it works is up for debate. I don’t anticipate they do any damage in the playoffs (and even making it might not be in the cards) but they’re trying to develop some young guys, ice a competitive roster and help Ovechkin get the record.
They’ve made some smart signings, and they’ve gambled some of the younger guys they do have will get better. If McMichael and Protas make jumps, they’re much better off than many figured. Its still really early