1) No one is really expecting the Cup. Failure is missing the playoffs for 15 years in a row.
2) Folks want this to be an entertaining part of the year. When your regular season is habitually disappointing, it is common for the off-season to be a time of hope. Problem is when the off-season moves are predictably underwhelming, and the accountability for those making decisions appears close to non-existent.
I'd say the general consensus is the team on balance may be slightly better or the same as last year, barring further changes, which would mostly be provided by trade. Everyone is hoping, but the majority has lost patience. I am with the majority here. I'd feel better about things if the goalie situation was stronger. If someone steps up, that would palpably increase the chances of breaking the historic record of playoff absence.