Still hard to say. The Hayes signing could look great if they win the Cup in the next few years, or bad if they don't and it causes cap issues down the line. With a stagnant cap, that's still a concern. As @Podein25 said, though, it's hard to argue with the on-ice result so far. That said, the health issues for Patrick and Lindblom seriously impacted what they're going to have to spend this offseason to keep them, and they might have been in cap trouble already had they not cropped up.
I was critical of the Niskanen move, but it seems to have worked out well. He rebounded quite well this season, and helped Provorov elevate his game. They did run up against some in-season cap issues though, where that retained money on Gudas might have been useful.
The Braun trade is fairly meh to me, Braun's been fine, but I think you could have done the same with a couple of the low-priced FAs out there.
One nice thing about Fletcher is that he hasn't taken too long to address his own mistakes. Like his signing Stewart, it didn't take too long to get rid of him. He was very willing to rotate LV guys in and out until he found the right fits.
I still don't like the Simmonds move, even though Hartman netted us Pitlick, who has been useful on the 4th line. Fletcher had offers with better draft capital on the table by his own admission, but went for the package with a player in it because he wanted a player back.
I also have to say that the culture around the team seems improved, and that's reflective of Fletcher, and can't be dismissed. Part of that has to do with the coach - AV has been excellent, but it all starts at the top. He deserves credit for that.