Decisions at the top have huge impacts, though. Ask the guy who drafted Matt Stafford in the first two rounds of a startup last year whether he wishes he'd spent a bit more time studying the top QBs. Ask the guy who got Peterson in the 2nd whether he thought he might have been better off focusing on guys in the 15th round, instead. And "at the top" doesn't just mean "WR#2 vs. WR#3", it also means looking seriously at the break between the 1st tier guys and the 2nd tier guys. Which side do you put Percy Harvin on? Randall Cobb? Hakeem Nicks? Victor Cruz? Larry Fitzgerald? How high are you willing to go on old man Peterson? Old man Brees? How worried are you about The Gronk's injuries? These decisions are potentially far more impactful than a decision on whether you should draft Kenny Stills or Nick Toon in the 16th, or a decision on whether it's worth it to reach on Quinton Patton in the 14th.
It's never easy, but I think picks actually become harder the further you get into the draft. And that makes intuitive sense. At the top of the draft, you have the entire player pool to choose from. That means you can exclude every player who has even a shred of risk. When you are picking from a list of Doug Martin, Trent Richardson, LeSean McCoy, Jimmy Graham, AJ Green, Julio Jones, Dez Bryant, Demaryius Thomas, Andrew Luck, and Aaron Rodgers, you should be able to get a good player. If you're gun-shy about the rookies, you can restrict your options to the even smaller population of Graham, Green, Julio, McCoy, and Rodgers. All top level players who have done it for multiple seasons.
The risk with a player like this is minimal. Yea, you might take Julio over Calvin and you might surrender some VBD there when all is said and done, but you've still got Julio and if he performs at the level he has the past couple years with a modest improvement for experience and opportunity then you've likely got a top 5-10 dynasty asset that's helping you win games while also maintaining peak trade value for a period of several years. That's a relatively pleasant doomsday scenario. You might not always make the
perfect pick in the first round of a startup draft. However, you should be able to make a
good pick. There's very little reason (apart from random bad injury luck) why you shouldn't be able to find a solid foundational player from the available options anywhere in the top 10-12 of a startup draft.
If you calculated the average career VBD for a first round startup pick, it would be pretty high. I just went back and looked at the first round of a 14 team draft that I did in 2008. It's five years later, and I'd say 9-10 of the 14 first round picks still have reasonable FF value (Peterson, Lynch, Gore, Reggie, McFadden, Andre, Fitzgerald, Wayne, MJD, SJax). On the flipside, the teen rounds are a barren wasteland. Every now and then a good pick pops up from the sea of crap (Jamaal Charles in the 10th, Aaron Rodgers in the 11th, Jordy Nelson in the 12th, Cedric Benson in the 15th, Pierre Garcon in the 18th). But we're talking about maybe one guy per round, if that. Mostly, your expectation with a pick in the teen rounds is to get a nice steaming turd. What this means is that in those rare cases where you actually do find someone of value, you've secured a huge spike over expectations.
Finding a good player in the top 15 picks is not special. Most of your leaguemates will manage that feat. Doing the same won't distinguish you from the average team. It's the expectation. However, most of the teams in your league are not going to fare very well in the mid-late rounds. That means that if you can get those picks right, you will have secured a big advantage over your peers. That's why I spend more energy looking at rookies and bench scrubs versus trying to decide whether Julio, Green, or Demaryius is the most valuable. I think that's like debating Fitz, Andre, or VJax. Useful to a point, but in the end the advantage to be gained by getting that problem absolutely right is a lot thinner than the advantage of getting Marques Colston or Victor Cruz off the waiver wire, or making the right pick when you're choosing between Anquan Boldin and Taylor Jacobs in the 14th round of your startup.