I thought about what you wrote this weekend during the drives to and from our tournament this weekend.
Overall: I don't disagree with anything you wrote.
To sum up my thoughts: If I were a veteran GM who wanted to get another job or a different job, the Sabres are the team I'd try to get into. Teardown GMs tend not to make it to the end of the teardown or far into the rebuild. Adams is falling into the rebuild GM problem, which is that he's made very good trades to tear down and the patience not to piss away draft picks or prospects. But the results aren't there, and they aren't going to come fast.
An accomplished, veteran GM that's has the sense to listen to his scouts and not piss away assets could make 1-2 good trades and fix the team. The assets are definitely available.