2014: 3rd last, Panthers won lottery
2012: 2nd last, won the lottery
2011: Last place, Devils won lottery (moving up 4 places as a result)
2010: Last place, won the lottery
So they got lucky two years in a row, 2011 and 2012. The lottery was different then, where the winner could move up at most 4 slots, so that Devils win allowed them to keep the #1 pick. Then obviously the leapfrog in 2012 was lucky... but that Yakupov pick looks iffy right now.
They won a lot, but their timing was pretty crappy. Hall has been a very good player, but Yakupov and Nugent-Hopkins really weren't the big end elite prospects you'd hope to see when you're picking #1.