Pickard was decent for Colorado last season, particularly when you consider the wet cardboard he had in front of him for defense. As a backup to Fleury, Vegas could have done a lot worse- they may be gambling that he'll develop further and push for the big job when Fleury exits in a couple of years.
As for the roster overall, goaltending is good, defense has some gems (I hated seeing Colin Miller leave Boston), and no one can buy a goal. Expect that to be addressed quickly if they're really serious about this whole 'playoff' business (they shouldn't be), because it's doubly important here- first because you're not going to compete in the West against Chicago, San Jose, etc. unless you can put the puck in the net once in a while to keep up with them, and just as importantly you're trying to get a fan base going. Sheer novelty might get them in the door (I'm still a skeptic), but if all you can show them is a series of 2-0, 3-1 losses that bore the fans more than anything, they won't come back.