Obviously a big deal for the Yankees.
Giving up prospects is always painful because you fear how great they can be with the proper development. But Juan Soto is a .900 OPS player and in any given year there are maybe 7-10 guys who can produce at that level, and if you have a chance to get one of them you do it.
The other hole being filled here is Alex Verdugo replacing Harrison Bader at CF. While Verdugo will be a worse defender than Bader, he is a significant improvement at the plate. Still, defense will be a concern and I think fans will have to live with some ugly stuff on that side of the ball next season.
I'm one of the few people who still has faith in Carlos Rodon having a bounce-back season. This guy looked like a Cy Young winner in San Francisco and I just refuse to believe this guy forgot how to pitch. I think the Yankees mis-managed him somehow last year and maybe didn't get the most out of him due to pitch selection strategy and maybe catcher framing.
That said, Rodon is currently a concern so I have to believe there will be a significant offer to get Yoshinobu Yamamoto. Yamamoto would probably slot in 3rd in the rotation, and I suspect the Yankees would try to hold him under 200 innings if they got him --- another note to keep in mind in terms of how much he can be relied upon.
Michael King was probably going to be the 4th or 5th starter in 2024. And I guess that's going to be filled out by Clarke Schmidt and Nestor Cortes/Jhony Brito -- though I don't think Brito is SP material. I would imagine the Yankees give some hot minor leaguer a shot. Or maybe a cheap veteran.
I have a suspicion that the Yankees might try to take the load off Gerrit Cole this season (just a little) since he's 33 years old now and will pass 2,000 career innings in 2024. Not that I think people should freak out over a guy who just won the Cy Young. And I'm vehemently against pitch counts and all that crap, for most guys, anyway. But the Yankees should look to strengthen that bullpen even more now because they'll potentially have a guy with a lot of miles on him (Cole), guys building up their condition after injury (Rodon, Cortes), and possibly a young kid who they'll want to protect (Yamamoto).
What I wish the Yankees had was a strong reliever who could start in the rotation if necessary -- in my mind, a guy like Matt Strahm (PHI) or Jeffrey Springs before he got hurt (TBR).
Edit - I should also mention that a lot is riding at the Catcher position because Austin Wells has a lot to prove.