Short take: if I'm the owners I'm thinking my team needs a new coaching staff. I'm also thinking that Lou did a great job turning around the culture, but things have stagnated and there is evidence of a failure to recognize needs and/or an inflexibility to adjust the roster to compete in the current environment. They probably don't want a full tear-down rebuild. I don't either, as I think a new coaching staff and a handful of roster adjustments (more dynamic talent on D and speed on the wings especially) combined could result in a contending team. But a GM would need to make smart moves. As others have mentioned, I'd like to see what a guy like Q could do coaching this team. And get a proactive GM who adjusts at faster than a glacial pace, with a traditional defense-first mindset but balancing that with speed and skill.
Ironically, I think Lou recognized some issues in getting a good skating defenseman in Romanov (our 2nd best D in the playoffs, IMO, even just coming off an injury - was better than most at keeping it simple, moving the puck quickly, and limiting dangerous mistakes), drafting top skating D like Odelius and George, and trading for Engvall. But he didn't do nearly enough and didn't fix the biggest hole - a dynamic offensive/puck-moving D. And still not enough speed on the outside (not sure why Holmstrom wasn't given a game in the playoffs when the problem became apparent?).
I just posted in another thread that the Isles had chances this series but basically got 2019 Trotz'd. No dangerous one-timers off cross-ice passes, no bang-bang plays from behind the goal line to the slot, no dangerous point shots with traffic in front, very few rebound opportunities. That's on coaching, IMO.