Right now, every team has 3-4 prospects on two-way deals who make $725K to $850K against the cap. They're just itching to make the big club. Everyone is healthy, optimism is in the air, and the future is nothing but promise.
There's no market in September for an overpaid depth player. A few months into the season, as teams get nicked up, that can change. Yet this is the time of year when everyone starts sending down good players, exposing them to waivers all at once. In the end, no one puts in a claim because they all have too many players as it is. You'd have to send down yet another guy to make room for the new player, so waivers doesn't result in a lot of player movement around the roster cutoff. You see 12/13th forwards and 6/7 defensemen routinely clear waivers.
What is the market in late September for a barely-there NHL 4th liner, who also makes a little too much money? There isn't one. He'd probably clear waivers too.
That's not to be overly critical of Engvall or anything. It's just that the league is overflowing with prospects trying to make the club right now. Everyone has 14 legit forward candidates today. Everyone can flesh out a fourth line, and they can do it for less money.