As an Oilers fan, they should just bring back the old lottery system with a rule that states winning the lottery will make you lottery ineligible for the next three years. I don't like the current system because it's common to see bad teams drop 2-3 spots and the difference between drafting 1st and 4th is huge.
Here is what would've happened to the Oilers between 2010-2015 if we had the above change:
2010: Oilers finished last in the league, which means there is ~50% chance they pick first (25% from winning the lottery, and another ~25% from a team outside of top 5 winning the lottery). They win the lottery which means they are ineligible for the lottery until 2014.
2011: Oilers finished last in the league again. They can still pick first overall, but the probability decreases from 50% to 25% since they can will retain their spot only if a team outside the top 5 wins the lottery. Due to immense luck, the Oilers pick first again because New Jersey wins the lottery.
2012: Oilers finished third last in the league and are ineligible for the lottery, which means they cannot move up and pick first overall.
2013: Oilers finished seventh last in the league and are ineligible for the lottery, which means they cannot move up.
2014: Oilers are eligible for the lottery again but does not win.
2015: Oilers win the lottery and draft McDavid. As a result, they are not eligible for the lottery from 2016 to 2018.
A simple rule like that would've changed two things:
1) Decrease the chance of Oilers picking first overall in 2011 from 50% to 25%.
2) Oilers cannot pick first overall in 2012.
I prefer this change over one where the league completely bars a team from picking 1st overall X number of times over X number of years because not all first overalls are equal. The above rule will drastically reduce the chance of a team picking 1st overall multiple times over a three-year period and it can only happen if the team finishes last in the league after winning the lottery.