That's probably true to some extent, as people will easily identify the obviously better players from the pack, but i don't think picks 1-5 or 6-10 are vastly different in terms of current or future ability. The point I was trying to make is that the value of early picks is there if you have the right structures at your disposal to take advantage of the opportunity, since the number a player is drafted at is a speculative value judgment based on the information at hand when the kid is 17/18.
I completely agree.
I've often felt that one of the main differences with kids who are taken earlier in a draft, compared to those taken later, is the ability to display more professional attitudes during under-age footy. These attitudes give rise to better, more eye catching performances through higher levels of (self motivated) fitness and technical skill - in addition, higher fitness levels also allow better execution of those skills. Differences in these attitudes are somewhat eroded when kids enter the AFL system due to the physical and mental response to the mentoring and coaching that is provided. Therefore rating at time of draft should be seen as purely indicative, and not remain the driver for player value.