If we are bad enough to end up in a position to draft 1st overall, the only way you even entertain trading it is if you know Matthews will be re-signing on the opening of free-agency when he becomes eligible for his extension. Because, if that doesn't happen, you aren't trading for immediate results.
It really depends on the return. But, given the cap parameters it would essentially have to be an already elite young RHD still on an ELC. Basically Seider if he takes a further step forward, and even then you are going to have to pay him a huge amount in a year, whereas while unproven players still have risk, with a first overall Bedard gives you 3 cheap ELC years. Not even going to speculate on Michkov, as I have no idea what the Western world's relationship with Russia will be in 2 months let alone 12, and he's tied to CSKA I believe until 2026.