I'm sure Hitchcock was upset. CBC showed a David Backes interview, also very teary. Every team bonds and thinks they can make it all the way. It is sad when a team loses a series, they've poured their heart and soul into it.
I never really thought Hitchcock might not consider coaching next season. Taking a team to the Conference Final round is a great accomplishment and normally a coach won't lose his job. But he was kind of on the hot seat, and I sort of think he had a lot of meltdowns over their playoff run, so maybe a different approach is needed. Also it seems like his style, heavy, patient, defend, defend, defend, wait for your opportunity, hit, hit, is not so much in favor, currently. Today it's all speed and puck possession, mobile defensemen, getting the puck up the ice quickly as possible.
I do think Hitchcock will return as coach, but I could see why he might not.