It's not as simple as having cap space and filling it with talent.
This team is still in the very infant stages of the rebuild, and it's still not done with the deconstruction at this point. Lundqvist won't be here for the next time we are competitive. Staal, Shattenkirk, Smith will definitely be gone. Kreider is a question mark. Point being, we are still acquiring assets and committed to a gut before we are ready to add.
We have so many lines in the water and we don't really know what we have exactly as far as legit contributors 3 years from now outside of a center, maybe a wing, and some depth pieces. We might have a few top line defenders or forwards in the system, but it's just as likely we don't.
We don't know what our true needs are going to be on the upswing. If we get lucky, we will have most of the pieces in the system after this draft. What I don't want is to add a $10m player, with a NMC, this summer and then find out in 3 years that we have a glut at that spot, ELCs expiring, and a need for space. Oh, and that $10m player is declining but not going anywhere because of protections we gave him.
Why? Because of season ticket holders? Ads? It's New York? I appreciate all the individual reasons that fans have but I personally want to see a cup. And I think signing a big ticket this summer when we have a very unclear picture will hurt more than help.
Free agents should be used to supplement a line up, not as a foundation. Toronto could very well have scuttled their title hopes with a bad signing. And they were in a better spot than we are. This is a bad team that is propped up by an aging Lundqvist. It's a mirage that we are close to competing. He will continue to age and that little oasis in net will disappear just as our skaters turn it around.