That's an interesting trade for Ottawa. I think I'd probably do that.

FLA takes that and runs

Severson's value has been exaggerated on here slowly in the last while. Now that he is a common target in AGM teams, his value slowly creeps up. Realistically he should get around what Muzzin got as he is a 2nd pair defenseman. Noel is better than Grundstrom and NJ needs a backup goalie. There's no robbery here.

To be fair, Severson has more term on his deal than Muzzin did and he is right handed which pretty much automatically drives the price up lol. I think he gets at least what Muzzin got

In terms of value, this is essentially the exact same. Severson himself is a worse defenseman than Muzzin, but is equal in value due to the reasons you mentioned. People have expanded his value to be worth significantly more than he himself is worth on this site in recent months.
Noel > Grundstrom & durzi
remainder value, Montembeault, likely mid 2nd >= late 1st.

The package for Muzzin also included Sean Durzi. Haven't really kept tabs on him since the trade but at the time he was a top 10 prospect for the Leafs.

MTL trade: I think Zacha could get more in return and NJD has little use for another smallish LHD.
FLA trade: With the the young winger prospects in Florida, NJD would have to end up with at least one if they deal Severson
ARI trade: Seems ok
OTT trade: Very bad for NJD. No chance.

In what universe is this conservative?