Merkley never showed that he was a real potential pro star. He was higher drafted, higher touted, but just never found the defensive game and never really sparkled in pro. When the sharks dealt him, his value was basically zero.
Cagnoni is waaaaay more promising. He's small, but his skill set is way more electric. His defensive game remains subpar, and that's why he isn't in the NHL yet. But, his skating is electric, edges are fun to watch, confidence is off the charts... The guy oozes future star if he can figure out the D zone. He really reminds me of lane hutson, or even a smaller, younger Makar.
In a redraft of the 2023 draft, I bet Cagnoni would be a mid to late 1st rounder, so I would put his value in that range in the event of a trade offer.