Personally I've found the draft to be strictly base on depth of your team. If you can compete (win enough games to make money) and also truly focus on adequately (nothing special) developing a 18/19 year old for 1-2 seasons you'd be surprised how quick an average draft pick with good potential can command 200k+ once you go to sell him. Then you've done both made money having a winning season and then added some revenue to maybe bid on that last needed player, or get out from under a financial pinch if your roster salaries are really draining your weekly income.
I guess my approach has been if I'm top 2-3 in the league for sure then spend $0 it makes no sense, but even if I'm 4th and for sure anything below then yes i spend not to draft a guy that will "help" my team but to draft a guy i can train just enough to get a quick revenue spike when selling him.
every manager is different for sure.