I don't think they'll cease to draft and/or seek trades, though.
So, in theory, if you have good forward depth plus an elite and quasi-elite talent, a decent-to-better defense, and really good goaltending...you can kinda be a competitor.
My thinking is they're eyeing a return to the past close-but-no-cigar model. Jones has stressed making it an attractive place to play again, the locker room reno, all that. I think they're planning to try to draft a couple stars, go buy another couple in FA, trade for some aging #2 defenseman, and let the second round exits and Conference Final bummers rip.