Leafs possession statistics are still low (partly by system eliminating high quality shots and taking high quality shots), but they are improving.
Because of the system and the players, the Leafs probably need an Even Strength, Within 1 Fenwick of 47-48% to remain competitive. They are running 46% on the season. There is no doubt that Leafs' PDO of 103.3% represents outsized luck to date, but with the system and players, they should probably be at least a 101-102.
With a more sustainable PDO of 101-102 and ES Close Fenwick of 48%, they're probably still in a wildcard position, but with less points. It is an example of the gambler's fallacy to assume that this winning streak that includes outsized puck luck necessarily leads to a reversion to the same magnitude on the downside. It's equally likely that they fall to earth, and put up more reasonable numbers and win at a more sustainable (maybe 55-60% of points) pace.
All that said... Bernier is a great goalie, and Kadri, Kessel, Lupul, JVR and even Bozak are an embarrassment of up front talent up front, and our depth players with Komarov, Winnik, Santorelli, etc are better than they have been in years.
This is not a bad team at all. It's a good thing we got a lot of points so far, because it'll still be a dogfight to the finish line.