3. Statistics tell the story of progressions to the mean
Despite the issues, the Devils actual statistics tell a story of progress to the mean. The Devils record is happening despite just a -2 goal differential. That doesn't tell the story of six wins in the past 17 games. Twelve teams have a worse goal differential since Christmas than the Devils. They are basically in the middle of the pack when it comes to goal differential.
According to Natural Stat Trick, the Devils are ninth in the league with a 51.8% Corsi For percentage since Christmas. They are 10th in high-danger chance differential. It's not the greatest, but it doesn't spell the work of one of the worst teams in the NHL.
This is clearly just a slump. The Devils need to figure out where the offense went, but once they do that, it should come in bunches at even strength. Luckily, things are still working in their favor on the power play and penalty kill, where they are near the top of the league in both categories. If that remains the same, and they get some 5v5 offense from someone on the top lines (Dawson Mercer and Paul Cotter lead the team in 5v5 goals since Christmas), it should see the Devils solidify themselves in the top three of the Metropolitan Division.
Of course, this team still needs to make a move eventually. They can't move forward with this collection of bottom-six forwards and expect to compete at the highest level, but there's a lot to like about how this team is built for the postseason. As long as they make it there, this should be a simple projection.