I like this idea in theory, but (hypothetically) a higher ranked player is going to be a much better physical specimen, with better general basketball skills who has performed better statistically than the hypothetical lower ranked player, usually against better competition. Switch out Judah with Symir last year and I think the team would have been more successful as there would be better scoring opportunities for our shooters, slashers and bigs and much better defense at the top.
You have to be really sure of your scouting report to pass up a top50 kid that isn't quite your idea of a point guard in order to go with a top150 kid who doesn't have the measurable physical attributes or track record because he fits your idea of "true point guard.". The father down in the rankings you go, the more sure you better be.
The days of Steve Nash going to Santa Clara because nobody got around to scouting him are over.