Are you sure?? I'd say $3M is probably the low bar through arbitration with $4M being the high bar.
If you look at the factors that can be presented in arbitration several are favourable to JP for a settlement in the $3-3.5M range. Take a look at recently signed RFA extensions:
2023-24 NHL players who are currently active in the league
www.capfriendly.com
Gurianov $2.9M
Jordan Greenway $3M
Matt Roy $3.15M
Andreas Johnsson $3,4M
Jack Roslovic $4M.
Jake Debrusk $4M
Statistically at the time of signing he sits in the middle of this group. He also has the analytics that rightfully or wrongly help his case.
Now few cases ever get that far. In part because most of the time players want an amicable settlement. (bones posted a nice summary in a previous post.) But that is almost besides the point. For the Oilers the possibility of settlements for JP and Yamamoto is what is hanging over their heads right now. If either files, and I expect both will, that creates cost uncertainty for the team which is a problem. It would force them to seriously look at trading Foegele or Barrie if the plan was to keep both and restrict the type of return because should either arbitration cases come out in favour of the player, the Oilers would be up against it.