Keith Law has his annual ranking of MLB farms systems up this morning. The Blue Jays rank 19th:
The Jays have been very aggressive in using their prospects to upgrade the major league roster, and they promoted most of the remainder, so what's left in the system is largely high-ceiling, Latin American prospects who are several years away and the products of their 2014 draft, from which both first-rounders have had surgery.
I'm not so worried about the surgery that 'both first-rounders' have had. Jeff Hoffman is apparently already throwing bullpen sessions and the Jays figure he'll be ready for game action in April. And I haven't seen anything suggesting that Max Pentecost's progress should be slowed too much. Of course, maybe he is considering Dalton Pompey, Aaron Sanchez and Daniel Norris graduated which would move us down the list.
The AL East as a whole doesn't do very well. The only AL East team ranking above the Jays are the Red Sox, who sit 5th. The Yankees sit one spot behind the Jays at 20th and the Orioles and Rays sit at 22nd and 23rd respectively.
I know my view is biased, but I think the Jays could be a ranked a little higher than 19th, but maybe that's because I've been looking through the Jays system to work on our top prospects list.