I would guess that he's leaving things open for a potential fast-track to the NHL. He has a lot of aspects to his game that would make him one of those kids with a realistic shot of being a DY+1 pro and going to the CHL would help with that -- JT Miller did the same thing with NoDak.
The issue with Tolvanen wasn't that he decommitted from BC, it was that they rescinded his scholarship because he didn't qualify academically. Kinda crazy to see what teams will get hung up on, but I guess that was a major red flag for a lot of them.
I really like Farabee. I think he has a high ceiling but also a reasonably high floor. His game is well-rounded enough that even if he never takes off offensively in the NHL, he could still carve out a solid career as a 3rd liner. He's US-born, USNTDP product with great wheels, a great motor, and a great attitude. He screams "Rangers pick" to me.
That being said, I could absolutely see Dobson or Bouchard being higher on their board. A top-pairing capable RHD is a little bit like a unicorn, and sometimes you gotta take a swing to find one.