To me, the process is more valuable than the result, in hockey as well as pretty much everywhere else in the randomness-soaked existence that is life.
Let's say you are the GM of the Carolina Hurricanes in the summer of 2006, and you just won the Cup. Do you enter the next season thinking you have the best team in the league, because, hey, after all, you have the Cup ring and talk is cheap and the playoffs prove who is best and success is all that matters? If you do, then I think that's a serious error in judgment.
Maybe that's what Carolina did, they didn't do too much to change their team and they figured Cam Ward was ready to be a starting goalie and the end result was that they missed the playoffs the year after they won it all.
That's not to say Carolina didn't "deserve" their win, or that their Cup rings should be revoked. Of course not. But I don't think it is at all inappropriate to point out that Ottawa, Buffalo, or Edmonton would all have been stronger contenders (and perhaps even favourites over the 'Canes) if not for injuries.