Teams have to get lucky in the draft, whether they pick in the lottery or not. Once in every 2 or 3 years there's a player who is a sure-fire star--Lebron, Duncan, Shaq, David Robinson, Hakeem, etc.--but they get picked #1. So as a team relying on the lottery, you have to hope that you get the #1 pick during one of those special years when a HOF player is sitting there for you. It's very rare, and there's no way you can count on it.
Every team needs a couple of foundational players. The Lakers have Kobe and Pau. Orlando has Dwight Howard. Phoenix had Amare and Nash. Miami had Wade. Etc. From there, it's a process of building on that foundation. Having one star player isn't enough to guarantee advancing in the playoffs--just ask Carmello, Dwayne Wade, Lebron, Tracy McGrady, Yao Ming, Dirk, etc.
As it stands right now, the Jazz, like other teams, really need another foundational star player. They have a full roster, but they need a big-time player to anchor the offense if they're going to become a true contender. Of course, that type of player is hard to get. The Jazz wanted to move up and draft Cousins, but weren't able to. Most teams get their 2nd foundational player through free agency--spending significant money on a proven player and attracting him to your team in part due to the ready supporting cast. This is how the Lakers got Shaq, and, of course, how Miami got Bosh and Lebron. The only alternative is to make a trade to acquire a disgruntled star player playing on a team that needs to blow up and start over. This is how the Lakers got Pau and how the Celtics got KG and Ray Allen. This is also how the Jazz got Jeff Malone and Jeff Hornacek.
Given that it's difficult for the Jazz to bring in big-time free agents, I think they are positioning themselves to make a trade for a star player that needs to be moved from his current team, like the Jeff Hornacek scenario. The Jazz have decided that they have Williams and a group of other solid players, that Boozer isn't good enough to be the second foundational star along with Williams, and now they have trade exceptions that will help a team that is floundering and wants the cap relief in a lopsided trade.
If the Jazz can bring Tomic over and make a good trade in the next year, they will have the foundation they need to make the WCF against either the Lakers or the Thunder. This year has to be the year of the trade. The Jazz have AK's expiring deal and the TPEs, both could help a team that needs to move a star player.