I just hope the Oilers don't waste him. They've had a slew of high end picks recently and haven't had much progress to show for it. McDavid is obviously the next level, and pretty much a lock to have success from Day 1, would be nice to see the team show some progress.
The other picks haven't been "wasted" in that the players didn't pan out as expected. Hall, other than last season (and of course his rookie year), has been one of the highest scoring wingers in the game. Nugent-Hopkins came in to his own last year, and while he hasn't been putting up crooked numbers he looks to be a bonafide 1/2 line center, albeit with less offense than hoped. Yakupov came out of a very weak draft year where just about none of the top picks are panning out great, but he looks like he could still be a 30 goal scoring, agitating winger.
But yeah, the picks have been wasted from the perspective that the organization's management has been fucking retarded for the better part of the past 10 years, and did little to improve an absolutely awful collection of veterans. You can't expect 19/20 year old kids to carry teams by themselves with no mid-career type players to help things along. And outside of the top picks, the scouting, drafting and development of later picks has been atrocious. And again, management completely misjudged numerous players that were traded away for peanuts that went on to become good players elsewhere (Cogliano, Petry and Dubnyk are three great examples). And management also made some absolutely horrid signings of aging veterans that blew up in their faces (Nikitin, Ference, Belanger, Khabibulin, Eager, Barker, god the list goes on and on).
Thank god though, that the organization finally made some pretty big changes over the summer. I don't personally agree with Howson and MacT being kept on, given how badly they fucked the team up in the first place (and Howson bombed in Columbus as GM as well). The majority of the amateur and pro scouting department was cleaned out over the summer.
There's still some shitty contracts on the books this year (Nikitin, Ference, and Purcell) but two of those fall off next year, right in time to extend/bridge some of the younger guys and potentially Talbot if he can carry the load. So I don't expect the team to be in the playoffs this year, but I'd certainly hope they're at least in the hunt for a spot until the last few weeks of the season. Next year I fully expect them to be in the playoffs and potentially ready to do some damage. But we'll see. So much hinges on how some of the young guys like Nurse, Draisatl, and Reinhart pan out, along with McDavid of course.
But I don't think you have to worry about McDavid himself. Kid's going to be a fucking stud. It's just a matter of whether the organization can succeed in building a team around him. Pittsburgh and Washington have arguably failed at that, wasting the prime years of the last two "generational" players with only a single Cup between them. Just goes to show you how it's such a team sport.