Holland made it quite clear to both of them, and to the fans through the media, that he only had the cap space to sign one of them, and whichever signed first would get the contract. Franzen signed first, Hossa landed on his feet.
Franzen jumped first, for which I don't blame him. He was coming off a season that few had predicted. Hossa was coming off yet another good season. His playoffs were bad due to injury. I don't remember when it was that Franzen re-signed, but I thought it was a great deal at the time.
Hossa knew he could make more elsewhere, even though he'd probably have stayed if the money was right. Franzen wasn't sure if anyone else would offer that plus he wanted to stay in Detroit. (The part about Hossa is a guess. The part about Franzen was what I remember him saying, but after this amount of time, I have no link for it.)
As to the direction of this team, I'd say it's getting younger, but still with some veteran presence. If this means a lag whilst the young guns get a couple years of experience under their belts, than it is what it is. I just hope they don't wait until Kronner, Dats, and Z are old to get another Cup.