There are a lot of reasons a team in the National Hockey League would want to hold onto their first round pick, most often they're used to hopefully draft key building blocks for the future and hopefully if they're lucky land the next big superstar in the draft, but I�be never heard a reason like this before.
First round picks are valuable, they always have been, but to outright have this be the reason is incredibly selfish. If you have an opportunity to make your team better and go on a run down the stretch into the playoffs, that's not something you pass up, especially when your job is to try and win and ice the most competitive team you can.