I think you look at any move in a bubble and draw certain conclusions both positive and negative. I liked some of the kids we traded, I think Grabner is decent but probably not worth what we gave from a purely hockey sense.
HOWEVER: This wasn't a purely hockey deal, and was made with a long term plan in mind from both sides, and will likely benefit both sides equally.
Step out of the bubble for a minute with me
Lou Lam is talking with teams about various deals and players, he is getting the pulse of what he can do and what he can't, who may be coming through wires, who other teams are shopping / looking for. We don't know what's going on, but he felt he really needed to create significant space / flexibility under the SPC.
It's not easy to find a team with that much contract space that they can provide you the space you need in one move. Snow gave up a chunk of contract flexibility in this deal - and while some here don't care about that stuff, I can tell you GM's do. We weren't getting that space for free - it's not like Snow would say give me your 5 worst guys that you really don't want.

There was negotiation involved, and they likely met in the middle.
Lou also would NOT do this deal without consulting with Hunter (or more likely - have Hunter drive the decision around which prospects were on / off the table). If there's one take away I have from the Rookie Tournament, it's that I trust Hunters evaluation of prospects more than I do mine.
In the end, the Leafs got what they needed - contract space (harder to do and more valuable than I think some here give it credit for - also is "future value" depending how used, but is another asset in the arsenal either way), and a serviceable player who can help the culture now, and be moved for more assets down the line. The Isles got financial relief and 3-5 decent, mid level prospects.
Big picture guys - Big picture!