#1 - They were never going to leave the NY market as long as there was a structure that could fit hockey besides MSG they could cut a deal in.
#2 - No matter what his true motives (real estate developing). The fact is the Islanders were in a financial prison of the SMG lease. And the only way out was serving their time on that lease.
The only reason for anyone to own the franchise was the real estate angle. A long play where you lose tens of millions until the lease was up is illogical and terrible business, since it was FIFTEEN YEARS to the end of the lease when he bought the Islanders.
If no one was willing to own the franchise with that lease... who knows what happens?
To have a guy buy a losing asset, pump money into it and say "I don't know hockey, but I'm willing to spend on what the hockey people want" was a fantastic thing that not many cut-throat businessmen would ever do. It's borderline philanthropy.
Again, the real estate angle obviously existed and getting the Islanders fans on your side and you have an army of those supporting your development project is smart lobbying, so I'm not placing "pure motives" onto his actions.
But the actions were the best we could have hoped for given the bleak circumstances. So my feelings for Wang will always be a little warm and fuzzy. Even if he wasn't smart enough to fire Snow and bring in better hockey people.