The reason we won't be in the Kings cap situation is because we didn't sign Backes and Brouwer to those contracts.
Do you really think Troy Brouwer is worth 4.5M? He is a average 3rd liner, who had a hot end to the season. He had 13 points in his last 20 games, with a very unsustainable shot%. That trend carried into the playoffs. Looking at his previous playoff performances, I'd guess this was an anomaly year. He completely fed off Fabbri and Stastny. While he did get in the forcheck well and seemed to have sense for positioning in front of the net, he is nothing special and overpaid. Troy Brouwer was our version of Bryan Bickell or Ville Leino. The difference being he is a better NHL player, but isn't the worth contract received.
You covered Backes with the last half of the deal being questionable.
While Winnipeg and Arizona have better pools, we are already ahead. Not every prospect works out and some will, we are past the stage of being bottom feeders. Our core prospects have proven to be top tier NHL players with some on the rise still (Fabbri) and other guys in the system looking to come up (Dunn, Walman, Schmaltz). I'll agree forward wise we may be a step behind but you wanna compare the blue line? Our defense has Pietrangelo, Parayko, as still young defenders who can carry their partner against elite talent and Parayko could very easily become as good as Petro. Then Walman, Dunn, Schmaltz who are all top 4 caliber talents that are mobile and can move the puck. Not to mention Edmundson, Lindbohm, Sergeev, Mikkola, who can plug the holes in, in the future. There also isn't any indication Shattenkirk can't be resigned but since I doubt he will, I won't include him. There is no team with the same level of youth, talent and depth on the backend. Upfront we have a superstar in Tarasenko, but I'll agree other teams have potentially more.
One thing I have to ask is, why are you so afraid? Teams that are rebuilding often always looks so bright and upcoming and even scary. But not near every prospect fulfills their potential and it takes time. Rebuilds can take a long time, teams like Chicago, Pittsburgh, LA, were rebuilding for a while. Then it took some development and gained experience, with exception to Chicago (who won a cup in their 2nd return to the playoffs). Pittsburgh had a few playoff runs before they won and it took 7 years for another.
I won't bother arguing over philosophical views, whether you like the big bruising style or the fast and puck moving style. Personally, I don't have a clear preference but based on our best players (Tank, Schwartz, Petro, Kirk, Steen) we are probably best trying to be faster and more offensive rather then bruising because it fits our core better.