For the Red Wings to still at least try (and likely fail) to make the playoffs, Yzerman needs to:
A. Bring in a suitable replacement or improvement over Larkin
B. Bring in the suitable #2C that they've needed forever
Otherwise, they might as well go for another rebuild. Build around Seider and Raymond, sell off DeBrincat, Copp, Gibson and Faulk for picks and prospects, fill gaps with UFA's they can flip, and weaponize cap space to get additional assets. But those assets should be used to make some trades for good players or prospects that can help in the next couple of years. No more of this "bUt He'S oNlY bUiLdInG tHrOuGh ThE dRaFt So It HaS tO tAkE oVeR 5 yEaRs" crap.
That said, if they go the "rebuild the rebuild" route, it needs to be done by a different GM. Preferably someone that has absolutely zero ties to the Red Wings organization and current front office.