I love Monahan but we cannot keep him. That team is not even bubble team level yet. It would be a waste of a contract in the short term.
Even if draft picks are overrated, it is still an asset for the mid to long term.
I am not against re-signing him in the summer if he wants to come back but we have already enough average to bad veteran on bad long term contracts. It could become an issue 3 or 4 years from now.
Draft picks are not overrated. Pretty much all cup winning teams built a part of their core via the draft. Look at the bruins. Pretty much all drafted players. They signed Chara that's about it.
Lucic drafted
Krejci drated
Bergeron drafted
Marchant drafted
Pasternak drafted
MacAvoy drafted
Carlo drafted
Swayman drafted
Poitras drafted
Rask acquired for a drafted Raycroft 1 for 1
What is overrated is kiritr, lidrship, grindrrrrrr, ....
The draft remains the best place to build a core, retool the core and stay competitive. It's not an exact science and you'll have to patch holes but nobody gives good prime players for over the hill vets at one point improvements have to come from the draft either by developing players you picked or by trading pick or young players for prime players.