In case anyone is really looking for the "Reason" behind the rebuild, it really is simple. The gutting of the scouting department in 2004 up until Pegula's purchase in 2011.
I'll let the carnage speak for itself:
2011 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2011 Entry 16 1 Joel Armia F Assat Pori [SM-liiga] 1 0 0 0 0
2011 Entry 77 3 Daniel Catenacci C Sault Ste. Marie Greyhounds [OHL]
2011 Entry 107 4 Colin Jacobs C Seattle Thunderbirds [WHL]
2011 Entry 137 5 Alex Lepkowski D Barrie Colts [OHL]
2011 Entry 167 6 Nathan Lieuwen G Kootenay Ice [WHL] 7 0 0 0 0
2011 Entry 197 7 Brad Navin F Waupaca H.S. (Wisc.)
2010 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2010 Entry 23 1 Mark Pysyk D Edmonton Oil Kings [WHL] 67 3 10 13 16
2010 Entry 68 3 Jerome Leduc D Rouyn-Noranda Huskies [QMJHL]
2010 Entry 75 3 Kevin Sundher C Chilliwack Bruins [WHL]
2010 Entry 83 3 Matt Mackenzie D Calgary Hitmen [WHL]
2010 Entry 98 4 Steven Shipley C Owen Sound Attack [OHL]
2010 Entry 143 5 Gregg Sutch R Mississauga St. Michael's Majors [OHL]
2010 Entry 173 6 Cedrick Henley L Val d'Or Foreurs [QMJHL]
2010 Entry 203 7 Christian Isackson F St. Thomas H.S. [Minn.]
2010 Entry 208 7 Riley Boychuk L Portland Winterhawks [WHL]
2009 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2009 Entry 13 1 Zack Kassian R Peterborough Petes [OHL] 187 30 31 61 265
2009 Entry 66 3 Brayden McNabb D Kootenay Ice [WHL] 86 1 23 24 56
2009 Entry 104 4 Marcus Foligno L Sudbury Wolves [OHL] 165 24 37 61 175
2009 Entry 134 5 Mark Adams D Malden Catholic H.S. (Mass.)
2009 Entry 164 6 Connor Knapp G Miami University (Ohio) [CCHA] 2 0 1 1 0
2009 Entry 194 7 Maxime Legault R Shawinigan Cataractes [QMJHL]
2008 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2008 Entry 12 1 Tyler Myers D Kelowna Rockets [WHL] 367 45 108 153 258
2008 Entry 26 1 Tyler Ennis C Medicine Hat Tigers [WHL] 322 82 115 197 143
2008 Entry 44 2 Luke Adam C St. John's Fog Devils [QMJHL] 87 15 11 26 32
2008 Entry 81 3 Corey Fienhage D Eastview H.S. (Minn.)
2008 Entry 101 4 Justin Jokinen R Cloquet H.S. (Minn.)
2008 Entry 104 4 Jordon Southorn D Prince Edward Island Rocket [QMJHL]
2008 Entry 134 5 Jacob Lagace L Chicoutimi Sagueneens [QMJHL]
2008 Entry 164 6 Nick Crawford D Saginaw Spirit [OHL]
2007 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2007 Entry 31 2 T.J. Brennan D St. John's Fog Devils [QMJHL] 40 4 7 11 14
2007 Entry 59 2 Drew Schiestel D Mississauga IceDogs [OHL]
2007 Entry 89 3 Corey Tropp R Sioux Falls Stampede [USHL] 127 6 18 24 104
2007 Entry 139 5 Bradley Eidsness G Okotoks Oilers [AJHL]
2007 Entry 147 5 Jean-Simon Allard C St. John's Fog Devils [QMJHL]
2007 Entry 179 6 Paul Byron C Gatineau Olympiques [QMJHL] 136 17 29 46 41
2007 Entry 187 7 Nick Eno G Green Mountain [EJHL]
2007 Entry 209 7 Drew Mackenzie D Taft H.S. (Conn.)
2006 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2006 Entry 24 1 Dennis Persson D Vasteras IK [Swe-1]
2006 Entry 46 2 Jhonas Enroth G Sodertalje SK [SEL] 119 0 0 0 2
2006 Entry 57 2 Mike Weber D Windsor Spitfires [OHL] 286 8 39 47 358
2006 Entry 117 4 Felix Schutz C Saint John Sea Dogs [QMJHL]
2006 Entry 147 5 Alex Biega D Salisbury School (Conn. H.S.)
2006 Entry 207 7 Benjamin Breault C Baie-Comeau Drakkar [QMJHL]
2005 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2005 Entry 13 1 Marek Zagrapan C Chicoutimi Sagueneens [QMJHL]
2005 Entry 48 2 Philipp Gogulla L Cologne Sharks [DEL]
2005 Entry 87 3 Marc-Andre Gragnani D Prince Edward Island Rocket [QMJHL] 74 3 15 18 34
2005 Entry 96 4 Chris Butler D Sioux City Musketeers [USHL] 375 12 69 81 171
2005 Entry 142 5 Nathan Gerbe C U.S. Junior National Team [Intl] 319 50 71 121 144
2005 Entry 182 6 Adam Dennis G London Knights [OHL]
2005 Entry 191 6 Vyacheslav Buravchikov D Krylia-2 (Russia)
2005 Entry 208 7 Matt Generous D New England Jr. Falcons (EJHL)
2005 Entry 227 7 Andrew Orpik D Thayer Academy (Mass.)
Thats 7 drafts (2005, 2006, 2007, 2008, 2009, 2010, 2011) primarily scouted via video.
I'm including 2011 because Pegula took ownership in Jan 2011 and the majority of scouting had already been done for the 2011 draft.
From those SEVEN drafts:
Tyler Myers
Tyler Ennis
Marcus Foligino
Chris Butler
Nathan Gerbe
Mike Weber
Jhonas Enroth
Zach Kassian
Corey Tropp
Paul Byron
Joel Armia
That's one top pairing d-man, one top 6 forwards, and 1 mid-level starting goalie and a bunch of bottom 6 forwards/depth d-men to show for SEVEN drafts. Armia MAYBE adds a 2nd top 6 forward to that group. But that's it.
Compare that to 2012, 2013, 2014:
2012:
Num. Round Player Pos Drafted From GP G A Pts PIM
2014 Entry 2 1 Sam Reinhart C Kootenay Ice [WHL] 9 0 1 1 2
2014 Entry 31 2 Brendan Lemieux L Barrie Colts [OHL]
2014 Entry 44 2 Eric Cornel C Peterborough Petes [OHL]
2014 Entry 49 2 Vaclav Karabacek R Gatineau Olympiques [QMJHL]
2014 Entry 61 3 Jonas Johansson G Brynas (Sweden Jrs.)
2014 Entry 74 3 Brycen Martin D Swift Current Broncos [WHL]
2014 Entry 121 5 Max Willman L Williston-Northampton (Mass. H.S.)
2014 Entry 151 6 Christopher Brown F Cranbrook Kingston (Mich. H.S.)
2014 Entry 181 7 Victor Olofsson F MODO (Sweden Jrs.)
2013 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2013 Entry 8 1 Rasmus Ristolainen D TPS Turku [SM-liiga] 86 6 7 13 24
2013 Entry 16 1 Nikita Zadorov D London Knights [OHL] 46 3 10 13 41
2013 Entry 35 2 J.T. Compher L U.S. National Development Team [USHL]
2013 Entry 38 2 Connor Hurley C Edina (Minn. H.S.)
2013 Entry 52 2 Justin Bailey R Kitchener Rangers [OHL]
2013 Entry 69 3 Nick Baptiste R Sudbury Wolves [OHL]
2013 Entry 129 5 Cal Petersen G Waterloo Black Hawks [USHL]
2013 Entry 130 5 Gustav Possler R Modo Jrs. (Sweden)
2013 Entry 143 5 Anthony Florentino D South Kent (Conn. H.S.)
2013 Entry 159 6 Sean Malone C U.S. National Development Team [USHL]
2013 Entry 189 7 Eric Locke C Saginaw Spirit [OHL]
2012 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2012 Entry 12 1 Mikhail Grigorenko C Quebec Remparts [QMJHL] 55 4 6 10 2
2012 Entry 14 1 Zemgus Girgensons C Dubuque Fighting Saints [USHL] 125 22 26 48 35
2012 Entry 44 2 Jake McCabe D U. of Wisconsin [WCHA] 7 0 1 1 15
2012 Entry 73 3 Justin Kea C Saginaw Spirit [OHL]
2012 Entry 133 5 Logan Nelson C Victoria Royals [WHL]
2012 Entry 163 6 Linus Ullmark G MODO Jrs. [Sweden]
2012 Entry 193 7 Brady Austin D Belleville Bulls [OHL]
2012 Entry 204 7 Judd Peterson R Duluth Marshall [Minn. H.S.]
While it is too early to really compare, its possible we'll see more NHL forwards out of the last 3 drafts than the last 7 combined. And yes, we've had more draft picks to work with, etc, but still, the rate of conversion already appears to be at least double it was under video scouting.
I'll let the carnage speak for itself:
2011 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2011 Entry 16 1 Joel Armia F Assat Pori [SM-liiga] 1 0 0 0 0
2011 Entry 77 3 Daniel Catenacci C Sault Ste. Marie Greyhounds [OHL]
2011 Entry 107 4 Colin Jacobs C Seattle Thunderbirds [WHL]
2011 Entry 137 5 Alex Lepkowski D Barrie Colts [OHL]
2011 Entry 167 6 Nathan Lieuwen G Kootenay Ice [WHL] 7 0 0 0 0
2011 Entry 197 7 Brad Navin F Waupaca H.S. (Wisc.)
2010 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2010 Entry 23 1 Mark Pysyk D Edmonton Oil Kings [WHL] 67 3 10 13 16
2010 Entry 68 3 Jerome Leduc D Rouyn-Noranda Huskies [QMJHL]
2010 Entry 75 3 Kevin Sundher C Chilliwack Bruins [WHL]
2010 Entry 83 3 Matt Mackenzie D Calgary Hitmen [WHL]
2010 Entry 98 4 Steven Shipley C Owen Sound Attack [OHL]
2010 Entry 143 5 Gregg Sutch R Mississauga St. Michael's Majors [OHL]
2010 Entry 173 6 Cedrick Henley L Val d'Or Foreurs [QMJHL]
2010 Entry 203 7 Christian Isackson F St. Thomas H.S. [Minn.]
2010 Entry 208 7 Riley Boychuk L Portland Winterhawks [WHL]
2009 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2009 Entry 13 1 Zack Kassian R Peterborough Petes [OHL] 187 30 31 61 265
2009 Entry 66 3 Brayden McNabb D Kootenay Ice [WHL] 86 1 23 24 56
2009 Entry 104 4 Marcus Foligno L Sudbury Wolves [OHL] 165 24 37 61 175
2009 Entry 134 5 Mark Adams D Malden Catholic H.S. (Mass.)
2009 Entry 164 6 Connor Knapp G Miami University (Ohio) [CCHA] 2 0 1 1 0
2009 Entry 194 7 Maxime Legault R Shawinigan Cataractes [QMJHL]
2008 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2008 Entry 12 1 Tyler Myers D Kelowna Rockets [WHL] 367 45 108 153 258
2008 Entry 26 1 Tyler Ennis C Medicine Hat Tigers [WHL] 322 82 115 197 143
2008 Entry 44 2 Luke Adam C St. John's Fog Devils [QMJHL] 87 15 11 26 32
2008 Entry 81 3 Corey Fienhage D Eastview H.S. (Minn.)
2008 Entry 101 4 Justin Jokinen R Cloquet H.S. (Minn.)
2008 Entry 104 4 Jordon Southorn D Prince Edward Island Rocket [QMJHL]
2008 Entry 134 5 Jacob Lagace L Chicoutimi Sagueneens [QMJHL]
2008 Entry 164 6 Nick Crawford D Saginaw Spirit [OHL]
2007 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2007 Entry 31 2 T.J. Brennan D St. John's Fog Devils [QMJHL] 40 4 7 11 14
2007 Entry 59 2 Drew Schiestel D Mississauga IceDogs [OHL]
2007 Entry 89 3 Corey Tropp R Sioux Falls Stampede [USHL] 127 6 18 24 104
2007 Entry 139 5 Bradley Eidsness G Okotoks Oilers [AJHL]
2007 Entry 147 5 Jean-Simon Allard C St. John's Fog Devils [QMJHL]
2007 Entry 179 6 Paul Byron C Gatineau Olympiques [QMJHL] 136 17 29 46 41
2007 Entry 187 7 Nick Eno G Green Mountain [EJHL]
2007 Entry 209 7 Drew Mackenzie D Taft H.S. (Conn.)
2006 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2006 Entry 24 1 Dennis Persson D Vasteras IK [Swe-1]
2006 Entry 46 2 Jhonas Enroth G Sodertalje SK [SEL] 119 0 0 0 2
2006 Entry 57 2 Mike Weber D Windsor Spitfires [OHL] 286 8 39 47 358
2006 Entry 117 4 Felix Schutz C Saint John Sea Dogs [QMJHL]
2006 Entry 147 5 Alex Biega D Salisbury School (Conn. H.S.)
2006 Entry 207 7 Benjamin Breault C Baie-Comeau Drakkar [QMJHL]
2005 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2005 Entry 13 1 Marek Zagrapan C Chicoutimi Sagueneens [QMJHL]
2005 Entry 48 2 Philipp Gogulla L Cologne Sharks [DEL]
2005 Entry 87 3 Marc-Andre Gragnani D Prince Edward Island Rocket [QMJHL] 74 3 15 18 34
2005 Entry 96 4 Chris Butler D Sioux City Musketeers [USHL] 375 12 69 81 171
2005 Entry 142 5 Nathan Gerbe C U.S. Junior National Team [Intl] 319 50 71 121 144
2005 Entry 182 6 Adam Dennis G London Knights [OHL]
2005 Entry 191 6 Vyacheslav Buravchikov D Krylia-2 (Russia)
2005 Entry 208 7 Matt Generous D New England Jr. Falcons (EJHL)
2005 Entry 227 7 Andrew Orpik D Thayer Academy (Mass.)
Thats 7 drafts (2005, 2006, 2007, 2008, 2009, 2010, 2011) primarily scouted via video.
I'm including 2011 because Pegula took ownership in Jan 2011 and the majority of scouting had already been done for the 2011 draft.
From those SEVEN drafts:
Tyler Myers
Tyler Ennis
Marcus Foligino
Chris Butler
Nathan Gerbe
Mike Weber
Jhonas Enroth
Zach Kassian
Corey Tropp
Paul Byron
Joel Armia
That's one top pairing d-man, one top 6 forwards, and 1 mid-level starting goalie and a bunch of bottom 6 forwards/depth d-men to show for SEVEN drafts. Armia MAYBE adds a 2nd top 6 forward to that group. But that's it.
Compare that to 2012, 2013, 2014:
2012:
Num. Round Player Pos Drafted From GP G A Pts PIM
2014 Entry 2 1 Sam Reinhart C Kootenay Ice [WHL] 9 0 1 1 2
2014 Entry 31 2 Brendan Lemieux L Barrie Colts [OHL]
2014 Entry 44 2 Eric Cornel C Peterborough Petes [OHL]
2014 Entry 49 2 Vaclav Karabacek R Gatineau Olympiques [QMJHL]
2014 Entry 61 3 Jonas Johansson G Brynas (Sweden Jrs.)
2014 Entry 74 3 Brycen Martin D Swift Current Broncos [WHL]
2014 Entry 121 5 Max Willman L Williston-Northampton (Mass. H.S.)
2014 Entry 151 6 Christopher Brown F Cranbrook Kingston (Mich. H.S.)
2014 Entry 181 7 Victor Olofsson F MODO (Sweden Jrs.)
2013 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2013 Entry 8 1 Rasmus Ristolainen D TPS Turku [SM-liiga] 86 6 7 13 24
2013 Entry 16 1 Nikita Zadorov D London Knights [OHL] 46 3 10 13 41
2013 Entry 35 2 J.T. Compher L U.S. National Development Team [USHL]
2013 Entry 38 2 Connor Hurley C Edina (Minn. H.S.)
2013 Entry 52 2 Justin Bailey R Kitchener Rangers [OHL]
2013 Entry 69 3 Nick Baptiste R Sudbury Wolves [OHL]
2013 Entry 129 5 Cal Petersen G Waterloo Black Hawks [USHL]
2013 Entry 130 5 Gustav Possler R Modo Jrs. (Sweden)
2013 Entry 143 5 Anthony Florentino D South Kent (Conn. H.S.)
2013 Entry 159 6 Sean Malone C U.S. National Development Team [USHL]
2013 Entry 189 7 Eric Locke C Saginaw Spirit [OHL]
2012 Entry
Draft Num. Round Player Pos Drafted From GP G A Pts PIM
2012 Entry 12 1 Mikhail Grigorenko C Quebec Remparts [QMJHL] 55 4 6 10 2
2012 Entry 14 1 Zemgus Girgensons C Dubuque Fighting Saints [USHL] 125 22 26 48 35
2012 Entry 44 2 Jake McCabe D U. of Wisconsin [WCHA] 7 0 1 1 15
2012 Entry 73 3 Justin Kea C Saginaw Spirit [OHL]
2012 Entry 133 5 Logan Nelson C Victoria Royals [WHL]
2012 Entry 163 6 Linus Ullmark G MODO Jrs. [Sweden]
2012 Entry 193 7 Brady Austin D Belleville Bulls [OHL]
2012 Entry 204 7 Judd Peterson R Duluth Marshall [Minn. H.S.]
While it is too early to really compare, its possible we'll see more NHL forwards out of the last 3 drafts than the last 7 combined. And yes, we've had more draft picks to work with, etc, but still, the rate of conversion already appears to be at least double it was under video scouting.