You're right about the Horvat trade, dunno why I thought it was later but the point still stands. If Canucks had been towards the top of the league I'm pretty sure they wouldn't have traded away their captain so they'd either had let him walk for nothing or overpaid him a la Islanders.
Probably just going in circles here but my main point is you're talking like these things are set in stone based on very little evidence and with a huge number of variables - Demko's health/performance, Silovs' development, other goalie signings, Canucks chances at the beginning of 25/26, where they as the deadline approaches, how much Demko wants and for how long, if they actually receive any substantial offers etc.