Why do keep posting this and ignore the buyout cap hit in 2021-22 that you wouldn't have if you trade/retain? I'm pretty sure Pittsburgh is concerned about their cap in 2021-22.
The way I look at this trade is, how many teams in the current covid/flat cap environment would sign UFA Bjugstad for a cap hit of $2.05M (and actual cost of $2.625M)? My opinion is very few teams would do that given the injury history, etc. If the UFA market is limited at that cost, then the trade is actually pretty good for pittsburgh.
I actually give Rutherford credit. He's been aggressive and made moves early. It is only going to get harder to move salary as time goes on - other teams will start spending. And probably no team takes the full $4M cap hit. Better to have certainty now, even if you have to retain a bit more. I feel the same way about his trade for Kapanen. Arguably he overpaid, but he's added his piece early and can now make other plans (i.e., figuring out his goalie situation and other RFAs). Sometimes you pay more so that you can move on and not be stuck.