Pretty obvious: ownership.
If Katz wasn't such a ****ing **** rider of Lowe and the rest of the Oilers' OBC, they would've been sent packing a long time ago. No other owner who has any sense of logic and rationality would've kept Lowe around this long. How many more years of failure do we need before he's finally kicked out of the org? I don't even care what his current position or capacity is. How does he deserve ANY job at all? Execs and regular employees (especially in the hockey world) get fired ALL the time for MUCH less. Katz was the worst thing to happen to this team.
Unfortunately, the list of Edmontonian billionaires who wanted to buy the team was probably very short. There was probably no alternative. But that doesn't make him a good owner. Neither does the ability and willingness to throw cash around. You have to hire wisely, fire wisely, and spend wisely. The first two are his responsibility, and he has failed miserably at it. Even with the overhaul FINALLY done a couple years ago, I'm sure there was an executive order of "do NOT fire Lowe" and some of his cronies. Their bromance is sickening, and has really hurt this team for a long time.
Starts with ownership, THEN you can go down the list of MacT, not having any D, etc. But it always starts at the top. Winning players, after they win the championship, who do they usually thank first? The ownership. Players aren't stupid; they know their sport, and they know when the owner is doing the right things or wrong things in terms of what's best for the success of the team. I think a lot of apathy of this team in the past can be linked to the players seeing how Lowe and his cronies kept their job no matter what, and ownership that was not just indifferent, but was STILL actually supportive, so they lost faith -- in many ways, I can't blame them. The best organizations always have great ownership. Think of all the winning teams of any sport, and think of their ownership. Without exception, they are smart and willing to do the right things for the team. Not put personal relationships first, and ahead of what is needed; they put the needs of the team FIRST, just as it should be. Katz is just a ****ing disastrous train-wreck of an owner, and it's about time someone said it. He may just be the worst owner in all pro sports.
I know there will be a lot of Katz defenders. People like to defend their rich over-lords, for some reason. That's just how the common masses are.