How bad is the bet that GM Stan Bowman made on Edmonton Oilers winger Trent Frederic?

In a recent article by The Athletic, Dom Luszczyszyn looked at every team and its contracts outside of entry-level deals. The Oilers ranked 8th overall, but one contract that hurt their rankings was the new eight-year, $3.9 million AAV deal handed to forward Trent Frederic.

Is his contract really that bad?