As a rule, ALL teams that have a hot start inevitable see a reduction in a stat like PDO as the season progresses and it has nothing to do with "regression to the mean". It has to do with the wear and tear of the season. The first month of the season a team is relatively healthy. The last month, everyone is sore. During the season, there are injuries, personnel changes, opponent adjustments, lead protection schemas/"greasy road games", trades/callups, playoff clinching, and other variables that a shit stat like PDO doesn't account for, but all contribute to a team's production efficiency.
NHL teams are not video game teams, where you get the same performance out of them night in and night out. The cumulative wear and tear of a protracted season has an attritional effect on every team, such that the team at the end, the one that hoisted the Cup, is not the most skilled or best coached team, but simply the team that outlasted the others. PDO has no model for determining which team this is.