I would agree with you but for 2 factors.
1. NYC FC (or any other team) cannot sign 11 world class players given the MLS quota system and its Designated Player rules. Both combine to ensure that primarily US Domestic players get a chance to play and develop.
2. MLS does not have Free Agency… a team holds players for as long as they want.
Those 2 factors mean that player acquisition is critical.
The MLS Draft is the main way a team can get its hands on Domestic talent that hasn't been cast aside. If it doesn't draft, it relies on trades… usually like for like… or the Re-entry Draft and Waiver Draft. Lastly of course is the Academy. But dropping 18 year old Canadians into professional soccer is more risky than drafting 22 year old NCAA players in this US Domestic league. I would also argue that for top picks, it isn't a crap shoot at all. Many, many quality MLS players have come via the draft.
It's very much like the Leafs. Pre-salary cap era, the Leafs could spend to overcome their shortfalls. They would trade youth for veterans (Leetch, Nolan, Clark II, Gilmour II, etc, etc). Then came the cap that limited spending. Then came restrictions via reduced age for free agency. Good players just weren't available anymore. The draft became critical in building a team and the Leafs had no picks.
It is perhaps even more critical for TFC since it is the ONLY way it can acquire US born players that haven't been dropped or deemed expendable by other MLS clubs.