I think another team offer sheeting Georgiev is a possibility, but I think the real argument for trading Georgiev is that we have Hank, Shesty and Huska but no great 2nd/3rd/4th line depth and no real plan for players coming up to fill it anytime soon.
I think these are the factors re: trading Georgie.
1 - if you can't get a top 9 NHL forward for Georgie, and the team is looking at a lesser return --- then it likely means you're getting a similar return to what you'd get for Hank.
A 2nd round pick + B-C prospect/3rd-4th rounder. (aka 2nd and Bracco?)
In that scenario, a 37 year old goalie @ 7.8m and a 23 year old goalie 800k with very similar numbers -- I don't know how you justify moving the younger guy. So, if Georgie isn't going to get Kapanen/Johnsson/Labanc -- I think its irresponsible to move him over Hank.
(for reference. In the 21 games Georgie has started, Rangers have 25 points. In Hanks 23 starts, Rangers have 21 points. Meaning, w/ Georgie in net Rangers playing at a playoff pace. w/ Hank in net, Rangers would be nearly tied with Sens/Devils)
2 - After Shesty, it's unclear who, if any, of the other goalies in the system can play backup minutes in the NHL. Huska is a maybe. He's been decent in AHL. But I don't think he's NHL ready. He needs to progress more to be NHL caliber consistently. Keep in mind, the trend for NHL starters is to play 55 games. Not 70. Huska isn't ready for 30 NHL games a season right now.
That said, a big factor here is Wall. What does the team think of his potential? And can they sign him before he goes FA? If so, then moving a young goalie MAY be an easier risk to take. Because then you're at least adding Wall to Huska with the Pack next year. But if the org doesn't know Wall's intentions they need to think long and hard about trading Geo or Shesty.
So, again, if the team can't get a legit top 9 forward for Georgie -- I think they MUST re-approach Hank. Either right before the deadline or in the off-season.