Most years there is a really good player at #1, so again, I dont think that's a good argument. And you dont only get the #1 pick, you get 2/3/4/5. The odds of you getting a top 5 pick in only "bad" drafts is low.The game theory podcast had a recent episode with tank rankings where they rated how much each team needed Cooper Flagg. That's kind of how the idea came from.
The Wheel is completely fair, but requires even more luck than the lottery since drafts are not created equal. A team would really have to luck out on getting their top picks during years where top pick worthy guys are in the draft.
FWIW, I'm just putting these thoughts out there as theoretical ideas that should be considered. I continue to think that ideas like the Wheel are incomplete without addressing the need for alternative ways to build a team outside of the draft.
Just go look at the list of the #1 picks over the last 10 years. Most are all-stars, and a lot are future HOFers.
The "bad" picks (Fultz/Ayton/Bennett) also werent the overwhelming #1 picks and could have those teams made smarter selections (Luka/Tatum/2013 was weird and no one was taking Giannis #1, so I guess that's also a nightmare draft to select in the top 5). The 2024 draft was truly unique with Risacher and there not being any great talent at #1.