It was borderline laughable because of the terrible draft results in 2002-06. A rebuilding team should do better than League average at drafting job, not be lower the terrible. Only team I can think of are Oilers. We spoiled multiple Ovechkin years. What is uncorrect here?
Going back to just teams in our division's 1st round draft choices between 2002-2006:
Carolina
2002: Cam Ward (1st rounder, #25 overall)
2003: Eric Staal (2nd overall)
2004: Andrew Ladd (4th overall) - Ladd played less than 150 games before being shipped out
2005: Jack Johnson (3rd overall) - Jack Johnson never played a game for the organization
2006: No first rounder
Carolina was solid at identifying talent, but moved on early from 2 of their draft choices. Ladd at 4th overall also isn't great value. 2/4 hits for me considering Johnson at 3rd overall and Ladd at 4th wouldn't happen again in a redraft
Columbus
2002: Rick Nash (1st overall)
2003: Nikolai Zherdev (4th overall)
2004: Alexandre Picard (8th overall)
2005: Gilbert Brule (6th overall)
2006: Derek Brassard (6th overall)
1/5 or 2/5 depending on your feelings for Brassard. So pretty bad picks there
New Jersey
2002: No first rounder
2003: Zach Parise (17th overall)
2004: Travis Zajac (2oth overall)
2005: Niclas Bergfors (23rd overall)
2006: Matt Corrente (30th overall)
2/4 depending on how you view Travis Zajac.
NYI
2002: Sean Bergenheim (22nd overall)
2003: Robert Nilsson (15th overall)
2004: Petteri Nokelainen (16th overall)
2005: Ryan O'Mara (15th overall)
2006: Kyle Okposo (7th overall)
1/5. Okposo at 7th overall could be argued as being bad value though. Bergenheim had a decent career but wasn't more than a 3rd or 4th liner.
NYR
2002: None
2003: Hugh Jessiman (12th overall)
2004: Al Montoya (6th overall), Lauri Korpikoski (19th overall)
2005: Marc Staal (12th overall)
2006: Bobby Sanguinetti (21st overall)
1/5. Staal is the only good get. The rest are pretty bad overall
Philadelphia
2002: Joni Pitkanen (4th overall)
2003: Jeff Carter (11th overall), Mike Richards (24th overall)
2004: None
2005: Steve Downie (29th overall)
2006: Claude Giroux (22nd overall)
I'd say 3/5. The 2003 draft for sure saved them. Pitkanen's career will always be a what if considering all of his injuries.
Pittsburgh
2002: Ryan Whitney (5th overall)
2003: Fleury (1st overall)
2004: Malkin (2nd overall)
2005: Crosby (1st overall)
2006: Jordan Staal (2nd overall)
Top 5 picks every year. I'd give them 3/5 hits. Whitney wouldn't be a 5th overall pick if you redrafted the 2002 draft. Best thing he did was give them Chris Kunitz. You could maybe argue Fleury at 1st overall over Eric Staal could have been a miss. Staal/Malkin/Crosby back to back to back years would have been insane. Jordan Staal is a miss for me considering Toews, Backstrom and Kessel were drafted directly after him.
Washington over that span went 5 (Ovechkin, Backstrom, Semin, Green, Varlamov) for 10 over the course of those drafts judging by your logic of busts but they still had Eminger, Fehr and Gordon with 10+ NHL seasons over that span. That means that only Pittsburgh and Philadelphia had better success over those years but Pittsburgh also had all top 5 picks.