I dont think we're in a rebuilt or i dont think Lou sees it that way at all. That means making sacrifices for the future. I simply don't see it. All i see it patching things up the best we can and hold on to what we have to "win now".
In my mind, this is Lou's way of rebuilding. He will never fully blow it up, because he's too much of a competitor for that and knows full well that attendance would rival the Panthers if he did. But he also knows that we don't have any NHL ready forwards in the pipeline, so he constantly has to look to FA to fill the gaps until he can restock. Now that the young D are ready to take the next step, he made the moves necessary to allow then to play. Can you remember the last time we had 3-4 D under 24 years of age in the lineup at the same time?
He may call it retooling, but this is a slow rebuild that has started with the D and goaltending, and will take a number of additional years for the F corp to catch up.