Its still too early to say how good or bad we will be, FA hasn't even started yet, but no I don't think we will be very good for a variety of reasons.
1. The defense is a mess. Yeah, it has young potential with Boqvist coming in and Peeke (maybe?) becoming a regular. But that means growing pains. Werenski is going to be a TON of minutes, in all phases of the game, and we'll see how he handles that. Gavrikov will increase his workload as well. There is a lot of potential for this group to be good one day, and one day soon, but it will take time to get chemistry together and get their footing. And thats even if Werenski and Gavrikov decide to stay. This is also assuming no other moves are made to address the massive hole at top pairing RD.
2. We still have no centers. This is where the potential comes into play because this can be changed with one trade or UFA signing, but the much maligned group of centers from last years team are still here and in tact. In fact, its weaker than last year since Domi is out.
3. Lots of new faces and a new culture shock is in place. This isn't necessarily a bad thing but with new faces come lots of adjustment. Larsen is going to want to do things his way and with most of the leadership group of Torts' era jettisoned (more coming?) it'll take time to set in place the new culture and what they're wanting the locker room to be. The team is also really young, and got even younger so far this offseason.
4. I think the plan is to heavily rely on young players, which usually means a lot of losing. Are you a fan of Texier, Bemstrom, Peeke, Boqvist, Foudy, and maybe Chinakhov? Well get ready for a big diet of them because I think they'll be getting a ton of minutes. Jarmo is going to want to see development from the kids, and the way to get the most out of that development is to play them. And yeah, I know the NHL isn't supposed to be the league where you develop players, but most of these guys are too good for the AHL now and need an opportunity to grow or fail at the big leagues. No better time than now to give it to them.
On paper as of now I have us last in the Metro, barely losing out to Philadelphia and New Jersey for the honor. But there is still a lot of offseason left and I don't think we're done making moves. But all I know is Jarmo and JD seem hell bent on completely turning over the old guard into Larsen's team, and usually that comes with some pain. I don't think this will be a long rebuild, especially if Werenski stays and Laine rebounds, but I do think it will require another year or two of losing.