This is absolutely correct.
And it really is scary to think where our pool would be at - already widely seen as among the three weakest in hockey - if we hadn't just grabbed a dropper in Raty and, well, a dropper in Dufour as well, who was widely considered a top 100 prospect in his draft year.
Of course, our staff has spent several drafts trying to be smarter than everyone else in taking Holmstrom (seen as mid-to-late 2nd rounder) and Bolduc (largely ranked outside of the top 225 players) in 2019, and then Ljunkrantz (unranked by many) and Jeffries (felt to be outside the top 200 by most every indepent draft guide) in 2020 although i.e. a Martin Chromiak was availabe at both spots after having been pegged as a top 40 talent and having since turned into a dominant OHL scorer.
In fact, looking at the list of guys taken right after Ljunkrantz and then right after Jeffries will make the average prospect afficionado cringe. Check it out here:
Elite Prospects - NHL Entry Draft 2020
By dealing three straight 1st rounders (Pageau, Palmieri, Romanov) and another four 2nd rounders in the process (1 for Greene, 1 for Pageau, 2 with Ladd), 4 of those picks heading out at the trade deadline, Lou has been making the transactions that absolute Cup contenders make.
But without the Cup.
What is noticeable with, for example, Tampa Bay, is that they nonetheless almost always have 7 or 8 picks in a draft, even if not necessarily in the 1st round. They make other moves along the way to maintain darts for the end of June.
Colorado has done plenty of picking in recent years as well, even if not this past summer.
Since Lou basically does nothing to rehash picks (only did so with Toews and Leddy, but sent two of those three to ARI to get rid of Ladd), any further dishing off a 1st and 2nd rounders at this point is basically organizational suicide.
He's really ultimately proceeding in an "all or nothing" fashion, but without actually signing bonafide NHLers to really have a shot at successfully proceeding in an "all or nothing" fashion.
We just gotta hope that the path he takes with what we have proves to be the right one.