Barrie to Arizona makes some sense. The rest of this is...questionable.
I didn't think it was that questionable. The Coyotes say they are willing to take cap for picks. Ottawa wanted to get rid of the Murray contract for nothing 3 months ago. I thought the Oilers needed to make the playoffs this season, but apparently that's not really the case, so that's the part that's questionable.
Barrie to Arizona only makes any sense if the Coyotes can trade Ghost. They acquired him as a pump-n-dump and he's played well, but the market for offensive D is apparently very weak right now, as they can't get a late 2nd for him (or a late 1st with retention this year and next). So they've said they will keep him until next year (he says he likes the Valley and the team, so he's comfortable waiting).
If the Coyotes can't get a late 2nd for Ghost, who has better number this year than Barrie on a much weaker team and has a cheaper, shorter contract with the same cap hit, than what is the expected return on Barrie right now? Especially if you're not willing to retain or take back dead cap (like the Coyotes are)?
Oilers fans talk about Barrie like he will be easy to move, and that might be true in the off-season. But right now, the market for offensive D is apparently very low. If the Oilers can wait until the off-season, they'll probably find a trade partner. I assumed they needed to do something before the off-season because the playoffs were a necessity for Holland to keep his job, but I was wrong about that.
If Ottawa is looking for an offensive D in this deal, rather than winding up with Barrie, the Coyotes could add Ghost for Ottawa's '22 or '23 2nd with some retention. But they probably would prefer not to take Ghost or Barrie back in the deal at all.