I could easily see Edmonton and Colorado being the WCF again in 2023.
Edmonton will have to play much better this time around than they did in the 2022 WCF. They weren't even really outplayed a whole lot in goal and still got swept, even with Francouz (and Kuemper in game 1) playing so poorly, but they were losing because Smith was facing 15 more shots in some of those games than Francouz was.
That said, I'm not exactly high on Georgiev (or Francouz and his two duct taped hips) and I'm sure it will cost Colorado a few points in the standings from last year, which doesn't mean they can't repeat (they went 16-4 with considerably below average goaltending in the playoffs), but just that it might make their road to the SCF even harder with different matchups and maybe facing a little bit better teams (like no Nashville in the first round to easily sweep) on the way.
All bets are off with Draisaitl and especially McDavid. These are the kinds of players that can take an otherwise mostly mediocre or average team to the SCF or even to a cup win out of nowhere. And the same goes for a Presidents Trophy or top of the conference finish.
One other thing the Oilers got going for them is that the Pacific is pretty weak. They can easily rack up wins against the San Jose's, Seattle's and Anaheim's of the division, who they'll get to play a lot of. LA could also regress and the odds of Vegas having another non-playoff season are much higher right now than they were coming into last season.
So yeah, I could see the Oilers a top-5 team in the league. They may or may not. I still think they're the favorite in the Pacific and clearly the strongest team in it. Calgary got worse, but not as much as you'd think. I'd say in that division it's Edmonton with Calgary a bit below. Then the next tier is LA, Vegas and Vancouver, with the very bottom tier being San Jose, Seattle and Anaheim. This isn't an official prediction of the order of that division, just that it's a bit of a crap shoot and wide open after Edmonton and especially after Edmonton and Calgary. One of those bottom 3 teams I listed can somehow squeak into a playoff spot, even if unlikely, it wouldn't be the most shocking thing.