It really is honestly in a better spot for the future than an actual expansion level team would have been. Especially after teams have learned how to navigate them better post Vegas/Seattle.
You aren't going to get guys like Keller, Cooley, Hayton, Guenther, Maccelli, Geekie, Lamoureux, But, Lutz. etc. Out of an expansion draft. You'd be looking at an older team that may win a bit more in the short term and maybe hope to parlay some picks out of teams looking to protect some players but you'll also likely be close to the cap.
This team has a good young roster, some decent prospects in the cupboard and plenty of picks with lots of cap room and an owner that might want to make a splash or two in free agency this offseason. Plus a lottery ball this year which could end up being a top 3 pick depending on how things go.