Before the acquisition of Muzzin, Pesce was the only piece available to solve the Leafs' short and long term issues perfectly. Rightie, complimentary 1st pairing quality, excellent defensively in transition/possession, and signed to a long term, cheap deal with no trade protection. If the Leafs got him, they'd put him with Rielly to anchor their defense for the next half decade while immediately improving their defense now for the 2019 playoffs. And the Hurricanes (and the fans here) were very well aware of this. It's why Waddell reportedly never backed down from Pesce for Nylander straight up, Carolina had all the leverage. Dubas had to chose between Pesce for Nylander or overpaying Nylander, including, symbolically, bonuses to the effect that he did not take a pecuniary hit for holding out.
With the acquisition of Muzzin, who can play the right side, they aren't nearly so desperate for a short term stop gap. Long term, Pesce is perfect in every way save they need to give to get him, but they now have time to hope Liljegren develops, or they get a Lovejoy for cheap, or whatever.
The Leafs have more leverage now than they did in November 2018, but not enough that the 'Canes will give up Pesce for Kapanen + Johnson, ie two 40+ point wingers. The deals I see are centered around Faulk and Kapanen, and Pesce and Kadri+, and if that isn't good enough, so be it.