Sure, but it takes time to let the youth grow into the players they were drafted to be, and by the point they're competing for the playoffs, Panarin will be past his prime. I won't fault the guy for choosing his location in UFA, but he missed a big opportunity to play for the Avs during their Cup window.
This is the big thing for me - he had his chance to hop on the Avs train and missed it. Would've made more money here than in NY, too. If he wants out after failing with the rebuilding Rangers for a few years, I would take him, but I wouldn't pay all that much for him.