Here is a breakdown of the deal from a Carolina perspective:
Jeremy Welsh is a non-entity. He's literally terrible. He was a highly regarded UDFA out of Union the year they went to the Frozen Four and he kicked in a few goals there, but his offensive game is non-existent. He's not incredibly physical and he doesn't skate incredibly well, he's just a big body. Carolina was enamored with him and due to our inability to draw UDFA talent, we had a handshake agreement to make his first contract two years with the second year being promised NHL money. $900k or thereabout. Carolina didn't want to pay his salary and he wasn't waiver eligible without it costing Carolina money. His value in this trade is negative, because what Vancouver will likely do is what Carolina would have done. Bury him in the AHL and hope maybe something catches. He's not a viable prospect.
Zac Dalpe is the reason for a 4th round pick. However, what is confusing about this is that Dalpe is waiver eligible for the first time season and it's possible that a team would be interested in claiming him if Vancouver waives him. He's a fairly upright skating winger with a fantastic shot and adequate speed. Right on the cusp of making an NHL impact, but he can't seem to find a role in Carolina that suits his game. I don't know why Vancouver makes this deal unless they intend to give Dalpe a shot in the NHL before waiving him or else they're paying a 4th round pick to take a headache away from Carolina named Welsh. Dalpe has been a dynamic forward in the AHL and has shown flashes of being able to carry that over in his brief NHL tenure. You will see Hurricanes fans saying he had a litany of chances to make an NHL impact, but in my interpretation those fans are incorrect. He wasn't given a consistent role and he needs to play with likeminded players offensively to be productive. It should be interesting to see what Vancouver plans for him.