That was the notion. Flip Pearson and get an extra asset. He started out okay, but he's cooked. No great loss. They had the space to maximize the pick they got. DeSmith didn't have much value otherwise and Montreal didn't have much bargaining power in what was a 4 goalie logjam at the time.
That has been the motto with the Habs management. The veterans they take on every year are a reclamation project that they hope to build back up and flip at the deadline.
Monahan turned out to be an absolute coup as they turned him into two first rounders.
The Pearson and dadonov experiments produced nothing, however. Dadonov was a strange case though because he seems to have fit well as a peice on a cup contender. But he didn't look very good in Montreal.... perhaps he was disinterested knowing he would get moved regardless.