1. I don't think a rebuild/retool/whatever has to lead to another lost decade. However we must hit on first and second round picks. The Islanders have to draft their stars or trade for them. They still haven't shown they are able to sign them as free agents.
Lou can trade and sign. That he has proven (i.e. Pageau, Palmieri, and Romanov). But Lou basically doesn't sign UFAs. And certainly none that are impact players. I think Varlamov was the last "impact" player he signed as a UFA and well, we all know that this signing also had much to do with getting Sorokin over here.
But yes, the bolded is definitely correct.
2. Restocking on the fly will actually result in us remaining mediocre because of the assets we currently have that we are willing to deal-a forward core made up of 2nd and 3rd liners (most with either $1M too much or 1 year too much on their contracts) and a defense group that has an excellent top 4 signed to team friendly deals that we should not trade. The return on those players will never be enough to keep us anything more than mediocre, in my opinion. Unless people here get over their fears of trading Mat Barzal or Brock Nelson, that is.
Here's our biggest difference on this issue, because I don't think IT HAS TO. It certainly can if executed improperly. But it doesn't have to.
We can be successful retooling on the fly because in Sorokin, Dobson, and Barzal, our most important pillars towards a championship, are still U27 and the absolute spearhead of any championship run we'll be taking in the coming years. They can be so for quite some time moving forward. So, the non-marketability of many of our other players doesn't have to be a deadweight keeping us mired in mediocrity. We won't be dependent on them having to return items that keep us highly competitive.
Of course, the hope is that when the contracts of players like Parise, Bailey, and Clutterbuck run out, these guys like Raty, Dufour, and Holmstrom will be ready to step right in and perhaps even prove to be an overall upgrade by that time. Will Lou let it come to that?
Reading between the lines, I believe Lou Lamoriello is content to "just get in" to the playoffs because he believes he has a team that can grind their way through the postseason. I want something more than that. I want a team that is always in contention for the Cup, not a "look out for the Islanders, they can be dangerous in the playoffs, if they make it in." That means being a 100+ point team in the standings EVERY YEAR.
The tough thing about this is only one of 31 teams wins the Cup every year and few others find themselves even making the conference finals multiple years in a row.
I definitely agree though that this team has to be ready to add from within and that even if there aren't many high draft picks, the drafting has got to be solid and a greater emphasis on finding other hidden gems out there via other avenues.
I just don't think that getting what you want here is going to require a rebuild.
It may require another type of GM...
I've been vocal about this being a make or break it type of season for his tenure here.