I recently moved Ullmark. I had too many goalies, and for me goalie value always comes down to opportunity.
Rightly or wrongly, a lot of opportunity comes down the the GM's "guy". The GM constructs the team, goalies have a huge influence on success... the GM wants "their guy" in net.
Ullmark was drafted by Regier (3 GMs ago)... who TF knows what was going on then.
He was developed by Murray (2 GMs ago)... the team was "building for the future".
Ullmark had AHL and NHL success under Botterill (the last GM)... the team was learning how to win with Eichel. Didn't work.
Now we have a new GM whose mandate is to get wins. This goalie is clearly not "his guy". Ullmark could be Adams' guy... but he just as easily might not.
Ullmark is pretty high risk for me as a result, simply because he's not the new GM's guy, and Adams will have a mandate to shake things up and win. UFA goalie signing? Possible. All options are on the table.
Ullmark is talented... he could very well run with it. But he's not really the incumbent anymore, not with the new GM.