It can work in the NBA. Cleveland sucked and got Lebron and was good. Even the Raptors back in the day with Vince Carter.
It is a lot harder in the NHL.
The other thing is for the most part you have be poorly managed to be at the bottom of the standings. Most teams change their management and the new group will 'tank' as a plan. The Oilers have kept the same garbage management that drove them into a hole.
Tanking/Rebuilding has also became a management survival strategy these days. If you can say you're rebuilding and the future will be bright, some people will overlook the current terrible team you've put together in the present (see the shift of opinion towards the positive with some when it came to Feaster when they started making rebuilding moves).
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