This is a question that for better or for worse brings up a few other questions.
1. How does Dylan Holloway fit in next year?
2. How does Tyler Benson fit in next year?
3. Is there a better, similar priced option available in free agency?
We won't have the answers to the first two until next fall, but we can safely assume that there won't be a better option in free agency for a similar price, especially considering the Oilers need to add a 1/2 LW and a 2/3 LD in addition to re-signing UFAs and RFAs.
In terms of McLeod's lack of production thus far, I again would attribute it to our lack of skill on the bottom 6. Frequently, I see McLeod getting open or making passes to his wingers but either the winger misses McLeod (Ennis) or fluffs on the pass (Archibald). The underlying stats bear this out as well.
CF% : 51.64
xG%: 54.08
PDO: 0.999
Although its pretty comedic to look at Corsi and Expected Goals through a sample size of 6 GP and 68:31 TOI, I'd say any analytics department would be satisfied with his performance so far, despite his lack of boxcar stats. If he's able to maintain these stats, one would assume he would eventually produce, not unlike what a lot of us were saying about Puljujarvi a few weeks ago. Although I personally would love to see him get some time with McDavid at 1LW I doubt this happens since he's more valuable to Tippett's system at 3C as he has seemed to tire of the Kharia, Shore, Turris carousel at 3C.
If we compare him to similar players on similar teams we get a better sense of where to place the goal posts going forward:
Alex Kerfoot: 8-13-21 in 52 GP, 0.4 pts/GP
Nazem Kadri: 11-18-29 in 50 GP, 0.58 pts/GP
Adam Lowry: 8-12-20 in 47 GP, 0.43 pts/GP
Jesperi Kotkaniemi: 5-15-20 in 51 GP, 0.39 pts/GP
Now most of these guys, save for Kotkaniemi have significantly more NHL/Pro experience (I mean even Jesperi has more than McLeod too) so comparing him to them might be slightly unfair right now. However, going forward, if McLeod demonstrates the ability to score at a 0.4 pts/GP clip then he's definitely the solution at 3C. Time will tell, and I imagine since we have already clinched a spot McLeod is going to get a lot of runway to solidify himself as the 3C on this team.