Yes, they viewed last year's team (I think rightly so) as a contender. And Armstrong decided not to overpay to re-sign Backes or Brouwer, but it left holes. UFA Perron wasn't enough. The top 9 today is nowhere the threat that it was last season.
I remain a bit skeptical about where this rebuild is going, but I think most Blues fans are viewing this post-season as an unexpected run with house money.
I'll drink to that!