Good question...Here's my take for what it's worth. In a nutshell, the defence (lots of depth, incredible skill level: Bonk, Dickinson, George, Edward) VS the offence--absolutely no depth. The pressure is on the 'twins' to carry the load, and they're trying to do too much (esp. Cowan). Ideally, you would not want to break up the twins since they work so well together, but it's a necessity in order to spread out (distribute) the little talent we have up front to avoid being a one-line team. And, that's the disconnect: defensive depth, no offensive depth.
Fortunately our PP has been red hot of late due in large part to 'Halttunnen's haymakers', and 'Bonk in the bumper'.
Our 4th line is a great liability...often get hemmed into our own zone, and they do not contribute in any positive way. We also have average/mediocre forwards in the lineup that I don't think have a high ceiling in this league (e.g. Nichol, Johnston, and then there's McCue who is no goal scorer despite doing some other things well). Julien has stepped up his game; verdict is still out on O'Reilly so I'll suspend judgement. Gazizov is hit or miss...he can be a wizard with the puck, great playmaking ability, but he's inconsistent, turns the puck over, and never appears to be giving 100%.
My guess is that the Knights will use some picks to acquire an additional scoring threat, and then just roll the dice with that lineup. Will that be enough? No chance. It's unfortunate that they spent all this effort building an impressive D corps and fell short with the forward group.