Problem is, by this logic (I pushed it to 15 instead of 5) we've swung and missed on every pick except Kemba and for a couple years, Okafor.
Bobcats' top-15 draft picks:
Brandan Wright (traded)
Bismack Biyombo (SAC picked him for us)
That is terrible.
The difference between a top 5 pick and and pick in the 10-15 range though is immense in the NBA. Hell, there is even a big difference between the 2nd pick and the 5th pick. Even well run teams are lucky to get a rotation player with the 15th pick, but good teams do not miss on top 5 picks.
Bobcats problem is they have had few top 5 picks (leading to fewer opportunities to land a game changing player), and have missed the opportunities when they had them. Luck (both in the lottery and in the year) plays a much bigger role than people want to admit too- honestly, the only truly bad picks on that list are Morrison, Augustin, and maybe Felton. The others were more or less inconsequential in the big picture because of where the bobcats were drafting