Not even close. First of all Smith was hurt for the Oilers too, he was hurt in game 3 of the season and was never healthy after that, lol.
Draisaitl is the 2nd best player in the world arguably, so with due respect, other injuries are not even close, he's a huge loss.
Girard is not Colorado's no.1 D. Lets see how far they would go with Makar playing with a fully torn hip flexor, to say it would make no difference is just flat out lying.
There's no excuses either way because the Oilers weren't going to win that series, but no one else was going to either. Colorado was the best team in the league by a fair amount last year, no one was even pushing the Avs to 7 games.
I give the Oilers credit for fighting back in a lot of those games, most teams would quit if they were down 2-3 goals to the Avs, the Oilers kept fighting back in 3/4 games. That was a big lesson learned, lots of teams still don't know how to respond to playoff adversity.