Edited Nov. 7, 2023 at 11:32 a.m.
This is a bad trade for the Sharks because Holloway is not as strong a prospect as his draft position suggests. Despite his 1st round pedigree, he's scored 9 points in 62 NHL games so far. That's not to say he has no NHL future, but I imagine the Sharks would rather trade for a prospect with more upside. As for Merkulov, he seems to be trending up, but he's undersized and is under a point per game in the AHL. I honestly don't think he moves the needle much at all.
The Sharks won't accept taking on Campbell without at least a 1st in return. Others have suggested the price of offloading Campbell might be a 1st plus a good prospect. Even if this package were dangled, I don't know if Grier accepts it because he's looking for cap flexibility in 25-26 (see the Karlsson trade).
I can see why you need to include Grzelcyk to balance salaries, and he's a real NHL player, but again doesn't really move the needle.
In terms of reasons why the Sharks might like this package, the 24 Edmonton 1st might be juicy if Ullmark doesn't turn the team around. Geekie is a good NHL player on an affordable contract, so he boosts the trade package value.
Honestly, this package is lacking a 2nd 1st from a Sharks perspective because currently it's more like Morgan Geekie and Holloway for Tomas Hertl, which is an underpay. Grzelcyk helps with cap balance, but doens't entice the Sharks. Campbell and a 1st for Kahkonen is not enough. Sharks have little interest in Merkulov.
If Hertl demands a trade to Boston, then we lose leverage and can't demand the 2nd 1st. A straight swap of Geekie, Grzelcyk, and a high pick or prospect, without Campbell might do it.