Whoever came up with this, I think he'd be a splendid candidate to win 42-45% of his bets. There are guys like that. Impressively sharp, and dedicated, but they have a remarkable skill at ignoring major variables that skew the numbers.
My first summer in Las Vegas I met an example. I was determined to soak up knowledge from older guys. Three regulars at the Stardust all had different reasons for being in town but they sat together. I joined the lot. One of them was a bookworm type, although not as nerdy, and a baseball fanatic. He raved about Bill James, the first time I'd heard the name. This guy only stayed in town during baseball season, and didn't arrive until a significant block of games had been played. He was gung ho, figuring out the "correct price" on every game and then playing off the differences. He referred to his little spiral notebook constantly. Every day he walked the Strip, zeroing in on the best price. If his formula and notebook said the "correct price" was +1.25, for example, and he was getting +1.40 or higher, that was a bet. He made no subjective judgments. It was the first I'd heard of that type of approach. Intriguing.
But there was one minor difficulty. Baseball is a streaky game. His system was identifying bargains in the number primarily because the opponent was on a winning streak, or his team was on a losing streak. That is built into the price. Every day we'd wait for him to arrive at the Stardust but we already knew who he had. He's be betting on any team that was mired in a losing streak, and against every team that was streaking. One of the other two guys, named Ron, would chuckle about it. "His system identifies losers. That's all it does. I feel sorry for him because he works so hard."
Some years the streaks end at 4 or 5. Other years they get carried away, toward double digits or beyond. Our friend could survive the first type, but not the second. Unfortunately, for the two baseball seasons I knew him, the second type prevailed. He left town the first year earlier than planned, determined to tweak his system. But the next summer it seemed stubbornly identical. Also the results. Last time I saw him was at the long gone El Rancho buffet, staring at a plate of barely touched pot roast. He couldn't believe how much he had lost for the trip, and wasn't sure he'd be back the following season.
That's a roundabout way to say I think this system unintentionally isolates favorable situation for drafts to look better than they are. Call it short sighted or any related term. If we revisited again in a few years, I suspect the conclusions would be similar, with strange teams at the top.