I look at it as lines
1mil + McDavid + 1mil
6mil + Bedard + 6 mil
Will the difference between McDavid and Bedard be enough to be cover the difference between 2 4th line players and 2 top 6 wingers?
Then consider that McDavid will only be available for 3 seasons, while you get to make use of Bedards caphit for 3 seasons, then you get him until 26 with a high caphit.