I like pretty much everything you said except this part.
1st round busts are a thing. They should be a thing.
Create a scouting/draft system that allows for it. But doesn't over do it.
I just don't want to have to handicap myself just so I'm so far ahead of the computer. I understand it's not as easy as I'm making it sound. Hell I don't even know how to make a video game.
But they do. So.. do it. Correctly.