Beyond obvious his list is primarily based on international tournaments, and therefore shouldn't be taken seriously.
For many years now his lists are primarily based on international tourneys, but that doesn't mean they shouldn't be taken seriously.
IMO, as a pure talent evaluator, like watching a game and evaluating a prospect off that, Button is one of the best of any media member/analyst. He's actually worked as a GM, Director of Scouting and Director of Player Personnel at the NHL level, he has far more legit experience with this than most. And when Button feels really strongly about prospects, he has a pretty good track record, is decently often right when the "consensus opinion" is wrong. If you could just take an analyst (anyone who releases popular draft rankings), transport them into the future, have them watch 1 game of some prospect without being able to do any other research, I'll bet Craig would be one of the best analysts in terms of projecting their future.
His weakness is that he's been really successful, and IMO gotten a bit lazy. He doesn't wanna watch reams of OHL, WHL, QMJHL, KHL, SHL, NCAA, etc. games - he's not some young hustler trying to break into the field and willing to work insane hours. International tourneys are the best bang for his buck, he can see most top prospects in a small number of games, so he mostly just watches those. He makes lists of 100 prospects, if he tried to separately watch 3 league-level games each each of all 100 prospects, that's ~300 games, which is ~900 hours, or >100 8 hour days just watching game tape. Not very feasible.
So yeah, his opinions are dominantly based on international tourneys, but he's also a really good talent evaluator, sees things that most analysts don't. His takes are worth considering, as long as you realize that they're heavily based on international tourneys.
Re: this list, some things that jump out at me:
- He's quite a bit higher on Sandin-Pelikka, Sale and Willander than most
- He's quite a bit lower on Benson, Yager, Reinbacher, Leonard and Cristall than most (Cristall at 35!!)
Will be interesting to see how those opinions pan out in a few years time.