I pretty much agree with you. This is definitely not a "Let's distract ourselves from the current state of the Devils" kind of event. The '95 Cup was a big deal for this team and ushered in a nice long era of "The Devils are a team to be taken seriously", even though the next four seasons after the Cup didn't really expand on that as much as people would've liked. A playoff no-show in '96, second-round loss to the Rags in '97 (and third playoff series loss to them in Devils' history, against no series wins), then the '98 and '99 first-round ousters. The 2000 Cup win came along at just the right time.
But...I hope it doesn't get to the point that the Devils continually dust off past championships. The '95 Cup is special...it was the first one and I think it is absolutely worth having some fun with again. But if this starts becoming a "thing", and five years from now we're doing this with the 2000 team (or celebrating the 25th anniversary of the '95 Cup)...then we're starting to get into Ranger territory.
I don't see a problem with doing another celebration in 5 years to celebrate the 25th/20th anniversary of '95 and 2000 especially if the team by that point is already back up on its feet. I just don't want to go to a Danton Cole or Kevin Dean jersey retirement ceremony. I'd love to see a game of players from the '95 Cup vs players from the 2000/2003 Cup. What you'd do with the guys who were on all three teams would be the question.