I don't think it was like that at all. People were excited for Hockey Pools, for sure, but they weren't taken very seriously as a Cup threat because their goaltender was David Aebischer.
I kind of remember it this way too, but less to do with Aebischer. I think it was more or less the oddball way the recent playoffs had gone, where Colorado and Detroit were gone after the 1st round and the WCF ends up between a #6 and #7 seed. That helped keep some of the talking heads from really predicting that certain teams would/wouldn't be Cup favorites, at least in the West.
I do somewhat remember Lacroix justifying the decision to go with Aebischer by alluding to something along the lines that having a top 6 of Sakic/Forsberg/Kariya/Selanne/Hejduk/Tanguay would give them plenty of offense to cover any potential goaltending deficiencies. I also remember some speculation that the Kariya and Selanne signings might convince Roy to reconsider not taking that final high paid year of his contract.
In all reality, for the Avalanche, Roy picked a pretty bad offseason to call it a career. Had he hung the pads up after the game 7 WCF blow out the previous season, the Avs could've entered a bidding war with Detroit for Joseph, with the loser getting Belfour (and the Leafs ending up with Dafoe
). Instead, Aebischer ends up their best option in an offseason that was extremely thin on available goaltending talent. There was speculation that the Avs would court Hasek if the Wings denied his option year, but obviously the Wings weren't going to let that happen and they certainly weren't going to deal Hasek or Joseph to Colorado. I think the Rangers at one point were the front runners for Joseph, which would've made Mike Dunham available. Roman Cechmanek and his unibrow could've been an option, but he was dealt while they waited for Roy to decide (might've actually been the same day...). Then Osgood took a pay cut to stay with the Blues. That left them with Garth Snow, Jeff Hackett, Felix Potvin and Jamie Storr on the free agent market. Yikes. Aebischer was likely better than opting for one of them or giving up assets in a trade to get a true #1.