The Pittsburgh Penguins have undergone multiple transformations over the past 10 months.Entering last season as a team believed to be in the Gavin McKenna sweepstakes, the Penguins took the hockey world by storm by starting 8-2-2 under new coach Dan Muse. Then their expected flaws surfaced, and the season looked doomed thanks to a late-December spree of blown leads. A 13-2-2 run after the holidays, however, put the Penguins comfortably in playoff position and, just as importantly, provided a buzz in Pittsburgh that hadn’t been evident in years.Then the Penguins were eliminated by the Philadelphia Flyers in the first round of the playoffs. The remaining buzz was officially muted by a less-than-exciting offseason that saw competitors make much bigger splashes than Kyle Dubas’ team.So, what comes next?Sidney Crosby is back, of course, and will again be joined by Evgeni Malkin, Kris Letang, Bryan Rust, Rickard Rakell and the resurgent Erik Karlsson.Beyond those big names, the Penguins have some young talent, considerable depth and serious question marks.They have the potential for another postseason appearance. If things don’t go right, though, their floor could be pretty low.Never known for being boring, the Penguins are one of the Eastern Conference’s most difficult-to-predict teams entering the 2026-27 season. Here’s my annual look at the state of the Penguins.A lot rides on Sergei Murashov this season. (Eric Bolte / Imagn Images)Biggest on-ice questionIs Sergei Murashov ready for primetime?Oh, the Penguins are facing many questions. Which of their 18 NHL-ready forwards will make the opening-night roster? How does the blue-line mix unfold? Does Harrison Brunicke make the team out of training camp? Can Crosby still be Crosby? Can Malkin play at last season’s level? Does Karlsson have another spectacular year in him? Does Ben Kindel take a big jump in his second season? Who plays with Karlsson?We could go on and on.But without quality goaltending, none of it is relevant. In Artūrs Šilovs, the Penguins have a solid goaltender with room for growth. But he doesn’t have Murashov’s physical attributes or elite ceiling.The Penguins put together a playoff season in 2025-26 without good goaltending. The duo of Šilovs and Stuart Skinner was average at best and often below average, especially when considering Šilovs’ shootout struggles. Strong offense carried the Penguins to the postseason. Given the ages of the Penguins’ best players, it’s not reasonable to expect them to finish among the league leaders in goals scored again. If this is going to be a playoff team, Murashov must almost certainly make a significant impact.Kyle Dubas has made the Penguins into playoff contenders, but when will they be championship contenders? (Courtesy of the Pittsburgh Penguins)Biggest off-ice questionWhat is Kyle Dubas’ plan?Sure, we know the Penguins’ president of hockey operations and general manager wants to add young talent to the organization. That’s perfectly noble, but every other NHL general manager wants to do the same. Are the Penguins rebuilding or not? It sure seemed like it, starting with the trade of Jake Guentzel a couple of years back. The Penguins were soft sellers for a couple of trade deadlines. But some facts to consider:• They brought back Malkin, 40, after Dubas had decided a year earlier that the 2025-26 season would be Malkin’s last in Pittsburgh.