2011-12 winning percentage .560 - top 8 scorers: Spezza, Karlsson, Michalek, Alfredsson, Foligno, Greening, Gonchar, Kuba (1 left on team)
2012-13 winning percentage .583 - top 8 scorers: Turris, Gonchar, Alfredsson, Zibanejad, Silfverberg, Greening, Wiercicoch, Smith (4 left on team)
2013-14 winning percentage 536 - top 8: Karlsson, Spezza, Turris, MacArthur, Ryan, Michalek, Zibanejad, Methot (6 left on team)
2014-15 winning percentage .603, prior to the streak .500 - top 8: Karlsson, Stone, Turris, Ryan, Hoffman, Zibanejad, MacArthur, Michalek (7 left on team)
2015-16 winning percentage .515, no miracles this year. - top 8: Karlsson, Stone, Ryan, Hoffman, Zibanejad, Pageau, Turris, Smith (8 left on team)
Winning percentage is relatively consistent, but the top players have turned over, That is the definition of a rebuild. The fact they have done it without tanking is impressive. Now, if there is no improvement from the core in the next couple of years without any further changes I would be concerned. But for now, this should be within expected results.
People are just too damn impatient for a rebuild on a budget. I just looked back at the original team from the 90's and how quickly they became a juggernaught. They made the playoffs in 96-97, but their record stunk (31-36-15). It wasn't until 98-99 that the team had a better than average record (44-23-15). Give this team a year with healthy bodies, and let's see what they can do.