Worst Case Senario For NHL Hockey in Canada?

The Return of the Jets got me thinking. Canada lost two Hockey teams in the mid-90's, and their were worries at the time that others could fallow. So, what is the worst case senario for NHL hockey in Canada, with say a POD around the start of the 90's?
 
Edmonton

Also, Leslie Alexander wanted to buy the Oilers and move them to Houston around 1997.

Maybe there could have been a scenario where only the Canucks and Leafs are still there, and the rest have moved away.
 
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