The Caps absolutely are. They used to be one of the worst, but since 2007-08 or so they redid their process and now they pump out NHL players at one of the best rates in the league, at one point they had produced like 5 NHL starting goaltenders playing concurrently (Varly, Neuvirth, Holtby, Grubauer, Samsonov/Vanecek). All this despite trading picks every year for NHL players. Having Ovechkin helps but they've sustained success because they are never in a situation like the Nats are now.
If that were the case, the Caps wouldnt be in the position they are in now, nor struggled to get production outside of their franchise players for over a decade at this point.
That goalie list outside of Holtby's tenure with DC is unremarkable. Heck, the last two simply highlight that failure even more. Those guys were let go to sign a high priced free agent goalie.
Theyve repeatedly moved guys and gotten less in return. The only young player they've really developed is Wilson at this point. Kuzy is a bust at this point. Vrana took off once he left DC.
I think its extremely telling that the only time that the Ovichekin era Caps got past the second round was the year when league talent depth was at its lowest