Bulk metal oxide catalysts are key components of numerous large‐scale industrial processes that possess a high degree of complexity in bulk and surface structure. Such complexity manifests itself in the form of large uncertainties with respect to the nature, density, and efficacy of active sites responsible for catalytic turnovers. Faceted oxide crystals present the prospect of exposing well‐defined oxide surfaces while also being amenable for investigation at realistic pressures and temperatures. Despite the opportunity faceted oxide crystals present for developing more rigorous relationships between atomic‐level structure and catalytic function, their use remains far less prevalent compared to their metallic counterparts. This review, focused on cuprous oxide and cerium oxide crystals, seeks to examine and highlight challenges in controlling and rationalizing metal oxide crystallization, as well as limitations preventing elucidation of the relationships between atomic‐level structures and catalytic properties. We postulate that a clearer understanding of these challenges will encourage researchers to further pursue the study of catalytic properties of faceted oxide crystals, aiding not only an enhanced molecular‐level knowledge of bulk oxide catalysis, but also the development of improved materials for large‐scale catalytic processes.