I'll just speak as a fan. The current edition of Hall certainly isn't a first, and I doubt if he would change the fortunes of Oilers this year.
A seven year contract? That sounds like any team would regret.
Let's imagine the Oilers have allotted 7m in signing a forward and their preference in RNH. But RNH signs elsewhere. Just spend that 7m on other UFA(s).

This plan is incredibly complicated to pull off.

They are not trading for hall. Options in order of importance: Sign Nuge, keep nuge and exhausting every effort to sign nuge, if nuge walks sign Taylor hall to no more than 5 year term at no more than what they offered nuge.

RNH and Hall are likely looking for long term deals. I heard a rumor that RNH wants 7x7.

Hall is close to 30. Nuge is 27. Nuge would get 7 years Hall won’t.

Doesn't really matter what players are looking for. Do you think Hall wanted a 1 year deal with the Sabres? Players will get paid what the biggest offer is. Would they be competing offers for RNH at 7 X 7?
It's a different market now. Can't image Hall gets anywhere near probably what he rumoured offer by Arizona of 9.5 X 7. His 2 goals in 21 games has cost him ten of millions.

Hall is almost 30? He seems so young

5x7 more fair for Hall?

Yes that’s fair.

Hall was not offered a contract like that or he would have signed it. They wanted to sign him to 7 Million x 7 years. For that money he figured he might as well try to find a contender to play for and try to win a cup.

If Hall was smart, he would have signed 1x6 with Colorado. Idk what Hall is planning to do this offseason

Somebody will still give him 5.5-6

Depends where he wants to go. I feel like he wants to be in Canada or a place he could "win". If he resigns in Buffalo, I would be disappointed

If he wanted to win, he would have signed for Avs or Tampa or sometime like for few million. No money is very important factor

I think in today's hockey, 7 years is way too long for guy turning 30 in November.