Toronto is another hilarious **** up, but at least they have another year to get it right. Only Nylander is due for a new deal this off-season.
But to get slightly back on topic, I do believe that the league is set up for failure. If I was commissioner, I'd do everything in my power to cut this league down to 24 teams. Would be legitimately impossible, the PA would never allow it, but that's what needs to happen.
Maybe there's enough talent to fill 32 teams, but why does there need to be 32 teams? Cut that **** to 24. Imagine the talent, then? Except we go back to the original problem, and for some reason, even in a 24 team league, the Rangers would claim McLeod on waivers, and ship an actual hockey player like Stempniak to Siberia.