That is on those team's management at the time, same as it is on the Rangers management right now.
None of those teams had a plan and stuck to it. The Oilers had a bunch of high picks, none used on D, none used on goalies.
Columbus kept drafting players who would rather go back overseas than play with them. They were even trading of players who did not want to be there
The Rangers in their market will always have players who want to come to them. When the time is right, once they have a foundation built on young talent, they should have no trouble attracting the right type of free agents need be. That can not be said for Edmonton or Columbus. Rangers have and have had an advantage they have been using to not only attract free agents, but they've used it to not only overpay for them but to also buy the wrong ones.
Look no further than Boston, Chicago, Pens, they have no problem with their top picks, and they have no problem signing the right free agents to supplement their picks.