I don't think Patches' value really dropped on the basis of his performance last year. One bad year, no PMDs to hit him on the stretch, no credible centers, terrible year all around etc.
So if he gets back on track I think teams would expect that, but he wont because everything that I just said is the same for next year. But another bad year and I think GMs do offer less.
As it is , his TDL is late 1st, good young bottom 6 roster player and good prospect. I would rather have 2 assets of better quality, like a 1st and a top prospect, hopefully a LHPMD.