Wrong.
It depends if they are put as a veteran inside the 38 or outside the 38. Outside the 38 means that you have less rookies (ie 6-number of vets outside of the 38).
ie Banfield is already a Veteran, but inside the 38. So WCE have a full 38 man squad, so they won't be in the PSD, and as they've kept Michael Embley and Jaymie Graham on the rookie list, they'll have 4 picks in the Rookie draft.
If they want to (not sure when/how often they can do this), they can move Banfield to outside the 38, to give them a PSD pick, but lose 1 of their Rookie draft picks.
Likewise Hird is inside the 38, but Fletcher is outside the 38, so Essendon, ATM have 1 pick in the PSD, and having kept Lovett, Lovett Murray and Wilson on the rookie list (and Fletcher taking up a spot), they'll only have 2 picks in the rookie draft.
The Saints have already delisted Knobel, have Peckett and Harvey outside the 38, but no other rookies, so can have 2 picks in the PSD and 4 in the rookie draft.
Assuming only Schofield is removed from a list between now and the final list lodgement date, and no movements in Veteran status, the PSD will have the following picks
Richmond
Carlton
Collingwood
Fremantle
Essendon
Saints
Port
Saints
Hawks, Dogs, West Coast etc will need to delist/move someone to outside the 38 to take part.