Again, I find the perceptions of 'high value' to be interesting.
Of the 32 players taken #16-31 in the 2018-19 drafts, Newhook is the 2nd best player. Relative to what you'd expect from a draft pick, he's a very high-value outcome. People think that #25 overall or prospects like Lapierre/Bourque have a better chance of being 'high value' than this sort of young NHL player ... and statistically and mathematically that just isn't the case.
I see all of those as low value given their likely contribution to the team and relative to contract expectations. Newhook is probably a ~$3 million player who is likely going to be paid ~$3 million/year until he hits UFA. The only way he adds real value is if he blows up and exceeds his next contract, which is a low probability outcome. Getting a $3 million player for $3 million per year isn't much better than having a draft pick bust.
I can see the argument that Newhook has a higher probability of providing upside than a low first rounder or those types of prospects, but in that context they are still low value.
But when we’re talking about high percentage, high value players it’s got to be a player that provides a strong likelihood of overperformance, like a Wright or a JT Miller in 2019.
And that’s where the picks as currency point becomes relevant, because I think you’re more likely to be able to make those plays for high value players in the offseason with a low first rounder than you are with a Newhook type, based on history.
Would Shane Wright be a better target than Alex Newhook? Of course. Is Detroit's 1st round pick a better target than Newhook? Yes. But people tend to vastly overrate the value of picks past #20 overall and vastly overrate the potential of 1st round picks who haven't hit the NHL by their draft +3.
I think that’s reasonable - I especially agree on the prospect side where people underrate how much value decays if a player isn’t progressing rapidly post-draft. I don’t feel particularly confident one way or another on the low pick vs player point.
I’m just less sure that pushing for current NHLers at the deadline is the best strategy. It’s one thing if other teams need to move out money or if it’s the offseason. But for contenders gunning for it, they are going to be loath to detract from their rosters and you should be able to extract more value in futures than current players, all else equal.
Edit: and to be clear if teams that are actually offering grade a assets, those are obviously preferable, but I’m just skeptical that you’re getting a Wright or Byram or Wyatt Johnson level asset for rental Horvat.