The Red Wings in 2019 were in at least as bad shape as the Devils were in 2015. Maybe even worse, as they had several more Kenny Holland albatross contracts on the book than what the Devils had in 2015. The Devils really didn't have any terrible contracts at the time Lou was ousted, but Zajac's was a bit high, Greene's became a bit high after a couple of years and Schneider's really turned into an anchor within a few years of that, but he was still one of the best goalies in the league as of the day Lou was ousted and would continue to be in year one of post Lou.
And the Red Wings haven't won a lottery yet like the Devils did twice in that span, though they've had some good pieces just outside the top-5.
So I don't think you should really expect them to be good or making the playoffs yet. Honestly, I would say 25-26 should be the goal, at least for some sustainable success. Maybe some attainable success in the next two years before that, like the Devils making the playoffs in year 3 of the rebuild.
If they somehow won Bedard or someone close enough to him, that probably speeds it up a little bit. If the Devils had not won the 2019 lottery and got Zegras instead of Hughes, we still may have been having a hard time this year and have just been a bubble or wild card team.
That said, I don't understand the Chiarot deal one bit. I know he's OVERRATED though by people in the hockey front office community. He's certainly not overrated (at least not no more) among fans.