No, he isn't, and maybe he'll turn out to be an absolutely wasted pick and suck, and will wash out of the NHL in a few years' time.
But I think that the difference between fans (not calling you out here) shouting "Bust!" and an org agreeing, when it's a 1st-round pick is pretty marked, as the treatment of Stanley shows. So then the question is, "What do we do with this player who still has a necessary skillset and upside but hasn't made his mark this season?"
Maybe, like Svetch, he can be a third piece on a line that's otherwise above his pay grade, and tunes his game to become a solid puck-pursuit player who can unleash a beast of a shot, as he did last night, and starts to develop into that role and become something of value to the Jets. Or maybe the next coach starts to build a 4-line team with a more equitable ToI distribution, attacking in waves (perhaps not very big or awe-inspiring waves at first) and getting closer to how the best teams deploy.
Before any of that, though, I really think with
@Jet that he needs to go down to the A and get some confidence and some time and space to do it in, without the fear of failure that seems to be reserved on this team exclusively for young players.