I like that there's a why didn't we pick DeAndre Jordan thread and a why did we pick Fab thread. You know what, it's a bit of a crapshoot, and high risk sometimes does pay off, while other times it does. Most of the NBA considered Sullinger too high of a risk, and that's worked out great for us. PJ3 has been pretty uninspiring for most of his career.
The plus side of having a bazillion draft picks is that you can strike out occasionally. I personally wanted Draymond Green with that pick, but I understood that the team had a need for size, and clearly still does. That team had just given Ryan Hollins significant minutes in the ECF -- PJ3 would have been not very useful, nor would have Draymond Green.
Also, despite Fab's lack of success, he still wasn't as useless as Royce White, who was taken 6 picks earlier. And while Kendall Marshall has slightly rebounded to role of backup point guard on lottery teams, he was a failure at pick 13, and was released before his second season like Fab. There was a lot of missing in that draft, before and after Fab was picked. It was described as very deep, and while there was value later on (such as Sully at 21 and Green in the second round), the duds are spread throughout the first round.