You're using the L.A. Kings, a team with two cups in the last five years, as a point
against puck possession? Great argument, kid.
You don't strive for great process with the expectation of perfect results; you want to give yourself the best opportunity to win, and there's a distinct correlation between winning games and CF% (it's also relatively reliable). You can't build a team around outscoring your opponents, because goal differential is volatile, so you build a team around a factor that
is fairly repeatable.
Nobody is saying it's a perfect statistic, but it's vastly superior to the oft-mentioned box-score statistics like giveaways, takeaways, hits, blocked shots, FO% etc.
You know you can verify (or dispute) these 'theories', right? You can calculate their correlation to Win/Pt% (it's
very simple). Thankfully, someone already did it for you- well, thankfully for
me, at least.
5v5 SV% has an 'r' (correlation with Pt%) of
0.483;
5v5 Sh% has an 'r' of
0.267;
5v5 CF% has an 'r' of
0.532 (increases to
0.584 when score situation is
'Close').
http://www.pensionplanpuppets.com/2013/7/10/4508094/what-statistics-are-meaningful-in-a-given-season-corsi-fenwick-PDO-hits-fights-blocked-shots