You're right about the injury risk (or decline in play) for Risto but he will still have two full years left in July, or a year and change next year. The word is nobody wants to give a 1st and they want the Flyers to pick up $. And they aren't going to be playing for the draft lottery next year. There is a place for him on a team that is going to acquire a young player or two, has a little $ to spend (they already opened up plenty of cap space with the other trade, plus it's going up) and should actually want to be better next year. A solid veteran defensive defenseman makes all of the young players - D, F, G - better. And a team that's desperate next trade deadline would give up a first with less of a financial burden. Also the Flyers could probably retain more readily next deadline because Hayes is coming off (the fact that they are apparently reluctant to squander their two open spots mean they must hope to use them in other trades this off-season or next year).
The real wild card on the back line is, there's no way York, Drysdale and Andrae will all be here by 2027.
I agree it's dumb they should try to be respectable but you also don't trade two guys for 50% of what you want just to get a few more lottery changes.
Keeping Laughton is dumber, for leadership/chemistry reasons, as he is more replaceable positionally, though I think his value really doesn't change. He should be worth a first now and they should take it rather than hold out for a better market or risk injury (it's crazy these guys even skate a week before the deadline, in baseball guys get pulled so easily).