While Schneider is a solid defenceman, the drop-off in mobility between him and Matheson would be stark. Without Matheson, our team would be much more vulnerable to a strong forecheck and less dynamic in transition and in game situations where speed and fluidity is paramount (4 on 4, overtime and the powerplay). Unless you are able to replace Matheson's mobility, any transaction where Matheson is traded away would constitute a material step backwards.
The reality is that it would be near impossible to replace Matheson's skill levels with any player who has a sub $5 million contract. What people forget is that in the construction of any NHL team, cap implications are as important a factor as projected on ice contributions. For that reason alone, it is highly unlikely that Hughes will be moving this extremely cost effective player.