Here's an interesting proposal an Oilers fan threw out on the main boards: Campbell, Bourgault and a 2024 2nd for Rakell, with the Penguins immediately buying out Campbell. Bourgault hasn't lit the AHL on fire since turning pro (34 points in 62 games in his rookie year, 20 points in 55 games in his sophomore year), but he was a 2021 1st rounder that did really well in the QMJHL.
Basically, you're getting stuck with this buyout:
Thank you for the amazing 9 years
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But getting a 2nd and a former 1st rounder for Rakell while also getting out of the remaining 4 years of Rakell's deal. It's basically the equivalent of the Penguins trading Rakell at $3 million for Bourgalt and a 2nd in terms of money.