Former Northern Ireland defender and BBC Sport NI pundit Stephen Craigan said the “draw could have been a lot worse” and it would be realistic for O’Neill’s side to avoid relegation.
“We’ve got more than enough in our locker to be competitive,” he added.
“If we could stay in League B after this campaign I think everyone would be pleased and see it as progress.
“I think stability, which would be staying in League B. You can carry that experience forward.
“Getting relegated would not be the end of the world, but when you work so hard to get that promotion you want to try and maintain it as much as you can.”
Craigan admitted it was a positive Northern Ireland had earned promotion to League B and playing at the highest level possible would help a young squad.
He also pointed to last year’s World Cup qualifiers, and said the side’s away form was an area they could improve despite some strong performances.
“You are going to be playing against better teams and going to tougher venues,” added Craigan.
“It will put the younger players under a bit of stress, but that’s how they learn and progress.
“The next stage is to maintain a strong level of performance but get results off the back of them, particularly away from home.
“Our record away from home hasn’t always been great, so that’s the next challenge for this young group, to be more competitive.”