Even without Hall the Oilers still have an embarrassment of riches up front now.
McDavid-Draisaitl-RNH down the middle with wingers like Lucic, Eberle, Maroon, Pouliot, Yakupov (reclamation time?), and Puljujarvi coming in.
Larsson makes the D a lot better and Klefbom being back will help a lot.
They are most definitely a better team, I loved Hall but you simply can't win a lot of games with a bunch of flashy forwards who play off the rush and no balance. If it was the 80s/early 90s sure (which is a shame IMO), but not anymore.
The Oilers now are much more balanced, bigger, and far tougher to play against the current Pacific division.
They are probably going to have to ship that Lucic contract out for the last year or two to a cap ceiling team, that said Hall is only 3 years younger than Lucic.