Rebuilds are a tricky beast. On one hand, there is a need to blow up aging rosters, restock the prospect cupboard, hope you get lucky, and then try again. On the other hand, there is an inherent risk of remaining in a rebuild forever due to a multitude of reasons. Much like hanging on for one last run is flawed, a rebuild can be flawed as well.
I take you to the Edmonton Oilers, who have been in rebuild mode for the better part of a decade now. The Oilers had top pick after top pick, and nailed most of them.