I guess it depends on what you mean by wasted. I assumed you meant that their year will automatically be trash, but I think the Steelers have a decent chance of making the playoffs, which isn't a waste.
I don't think NYJ and OAK are surefire doomed to not make the playoffs the next 3-4 years, but I don't think Oakland has a great shot of overtaking the Chargers or Chiefs in the next 3-4 years, and I think that Brady lasts 3 more years, so the Jets don't have a great shot. The NFL changes drastically every year, so I could definitely be wrong, but I think over the next 3 years, the Steelers are more successful than the Jets or Raiders. After Ben retires, it's a crapshoot and that remains to be seen 100%, the Steelers could be a bottom 5 team after he leaves, who knows.
The major contenders from last season all got worse this offseason, the Pats, Rams, and Chiefs all lost major pieces on offense and defense. The goal is that underrated signings step up and that the draft helps to fill needs. The Steelers had a great offense last year and a super crappy defense (sack numbers were deceiving). They got a mediocre WR to fill a gap in depth (not to replace AB) and they got a new CB and ILB, two places where they needed help. Those signings might not work out, but they made moves in FA which they don't normally do, to try and improve. The Steelers had WAYYYY less cap space than the Jets and even the Raiders, so expecting them to make splash signings like Mosely or Trent Brown/Tyrell Williams (all 3 overpaid) is unreasonable.
I think that the Jets and Oakland win 7 games with Bell/AB on their rosters, possibly even this year, but the point of them going to much worse teams I think is valid.