except, for all its faults, the NFL draft is there to at least smooth out the competitive advantage some teams have.

The worst team gets a chance to draft the best new player, every year.
Now they might not be successful, but thats on them, at least they get the chance. Add that to the salary cap and you have a much more equal playing field.
Its why a small market team in the absolute pits at one point can turn it right around with a couple of good drafts and free agent signings (that they can do as they have the same amount of money as everyone else) so you can be utter dog shit one season and fighting for the super bowl 2 or 3 seasons later.