"Blow it up", in the sense of tanking is obviously nonsense. Teams don't do that when they're a 100+ pt team that is still currently competing in round 2. They don't look like a Stanley Cup winning team, but when teams are in that position, they try to build on what they have and/or make some bold moves to get better next season.
The foundation of the team is basically all coming back and mostly young, and they have a ton of cap space. I don't think they need to subtract from what they have, as they aren't capped out and have room to add a big fish in free agency or on the trade market. Adding a top line talent isn't easy, but if their management can make a big splash for an impact player I don't see the big deal in trading a first round pick or some assets from an Ullmark trade. There's always going to be some players available from teams that want to make changes (think a player like Marner) and if you have cap space that's a good start to facilitate a deal.