Quoting: EatMyScoobySnack
Monahan along is an first round + so not fair at all for Montreal.
I am not a big fan of this trade. That being said, not all first picks are equal. (This analysis provides interesting insights: https://dobberprospects.com/2020/05/16/nhl-draft-pick-probabilities).
A 1rst from (e.g.) Boston or Colorado is potentially worth much less than a first from NYR given the current rankings and the odds of their clinching their respective conference.
And maybe Perreault was a 23rd overall pick, but his value has increased since then. Not sure he'd fall to 23rd if we redid the 2023 draft with today's information.
In short, in the NYR were bold enough to give us Perrault 1:1 against Monahan, I'm pretty sure Hughes would say yes... unless someone else seems even more desperate
In a trade with NYR, I'd be less surprised to see a package built around Kakko then around Perreault.