Oilers' first rebuild was around Hall and Yakupov and both are gone.
Oilers rebuild was overrated when 1 1st OA was a complete bust in Yak and the other was simply a decent 2nd line C in RNH. Only elite player they had before McDavid and their German Prince was Hall. Along with that they drafted terribly in every other round and never found a goaltender or defense.
Fans assume being bad means rebuilding for many teams, but often FO's can be inefficient with what they get out of bad years and in many cases getting nothing of benefit out of it at all.
Moving a bust for a 3rd and trading a top 5 winger in the NHL for a decent top 4 D didn't make EDM any better. Getting the best player in the World by miles from some ping pong balls did.