This has nothing to do with denial.
Why would a team would trade away a supposed star player for nothing?
Why does that even matter? He's producing at the top ten rate offensively up against the top lines. The other so-called "star" defenceman are primarily given offensive zone starts, against weaker lines and yet Phaneuf clusters with them.
What does that tell? It demonstrates that he's clearly worth more than $6.5 million. With that in mind, I have yet to see any respectable argument against Phaneuf in this entire thread.
[Added Later]
I could ask, why was Lupul moved by Anahiem as a salary dump? That trade got us a first line forward and surely, if he can be considered that great, he should've gotten more.
Lupul + Gardiner + 1st rounder for Beauchemin.
Looks like Lups is a fourth line energy forward...
PS: As I said, it happens.