Babcock's time in Toronto is probably winding down.
What was his deal for? 8 years? This is year 5 right here. Wouldn't be surprised if he's out after this year, especially with another first round exit and the fact that it's now public knowledge and quite documented that he and Dubas don't see eye to eye and possibly don't even get along at all.
If they struggle this year, it wouldn't be a surprise to see him fired mid-season. They don't even have to be bad, they just have to underwhelm a bit and Babcock might be gone.
Someone else will probably hire him and even if they don't, the last 3+ years on his contract won't be too much for the Leafs to eat. They have enough money that they can just print it.