I think from an owner perspective they are getting the actions they want just not the results.
The goal being - Maintain teams which will sell regular season tickets and generate the odd playoff revenue.
In that mind set in the off season they had two choices after Gaudreau didn’t resign. Tank or try to get competing assets. The flames executed an impressive set of asset swaps to ice a competitive team and extend the window by 2-3 years.
Then goaltending fell apart so the team isn’t competitive so you hold your draft capital and see what you can do next year.
Is the owners strategy correct? Probably. The teams viability is vendors taking clients to games. If the casual person isn’t interested in going the advertising budgets will go elsewhere. Is it optimum for winning cups? No
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