Quoting: ricochetii
If you aren't willing to give up 1st round picks to get McDavid to the cup, you shouldn't be in charge of the team with McDavid on it.
Teams like Chicago, Pittsburgh, and Tampa, put everything they have into their pursuits. If you are holding back and trying to get the best of both worlds, you're more likely to flounder in between.
I don't think any Oiler fan would suggest the Oilers hang onto their 1st round draft pick instead of using it to acquire an asset, or assets, that will help them win a Stanley Cup. Edmonton has solid group of top-6 forwards, and a pretty good set of RD; goaltending hasn't been as big an issues as predicted, the 3rd line has been good at times but inconsistent, the 4th line could improve, and the 3LD is a concern. Injuries to Nurse, Koekkoek, and Keith aren't long-term problems; all three remain under contract next season and LD is an area of significant strength in the Oiler prospect pool. However, the Oilers are tight against the salary cap, and that pressure remains next season.
Holland has said he will trade that 1st round pick, if it makes sense for the Oilers. He has also said term, or team control are requirements in order to move that pick. If he trades that 1st round pick, ideally it will help Holland address an area of need while also relieving a bit of that cap pressure. That said, it doesn't make sense to spend that kind of draft capital on a bottom six forward, or a 3rd pairing LD, or a back-up goaltender. If that draft pick is traded away, I think a roster player will be going with it and the return is most likely going to be a goaltender or a very good middle-six forward, either an RFA or a player with term remaining.
As for LD, I believe the cost needs to be reasonable because that player almost certainly needs to be a rental. IMO, a 1st for Chiarot is too much for the Oilers to pay and a guy like Brayden McNabb may be a suitable fit at a lower cost. Holland probably shouldn't pursue that kind of player until Nurse and Keith are back in the lineup, otherwise he is probably going to have to pay a premium.