If you believe our best bet to acquire a star is through the draft, you want us to finish the season with a comparably bad record, ideally the worst record in the league, to give us the best chance at a top pick in the following lottery. However, to reach this level of "bad", you would have to actively work towards it. You need a roster full of d-leaguers, your coach and best players have to be in on it, you have to sit the hot hand at the end of games if he could single-handedly win you the game etc.
If you manage to succesfully execute this strategy, you will have a 25% chance at the top pick. This, of course, has to happen when a potential superstar talent declared, and then he has to develop as expected. As you can easily see, this strategy involves many qualifiers even after you've done everything in your power to maximize your chances.
If you want to take the "draft" route to its logical extreme (as Philly has done), then yes, this is what it looks like.
However, I think there's a bit of a medium strength option that mitigates some of the concerns / drawbacks you highlight.
Instead of focusing on maximizing your chances at a top 3 pick (i.e. playing the lottery), you can instead set yourself up to finish in the top 10, where history tells us the vast majority of star quality players get drafted, and do that for a handful of years.
You then use that series of top 10 picks however you like. Develop them into a competitive young core. Trade them for established players who can form your core.
Then, when you already have a quality core group in place, while your cap situation is still flexible because you have a young team, you try to attract one or two first or second tier free agents to put your group over the top.
In this plan the biggest thing is that you must draft well and develop well, or at least make good use of those picks in other ways, because if you spend a handful of years picking in the top 10 and come away with no really quality prospects, you're hosed and have to go back to the drawing board (see: Charlotte).
Still, to my mind, top 10 picks are the essential building blocks of a rebuild. Set yourself to collect those for a few years, then see what you can make of them.
Very frequently the 'tank' vs 'anti-tank' debate gets boiled down to the two extremes of "Hinkie-mode!" or "Put the best team on the floor that you can no matter what!" without acknowledging that there are middle options that don't require such drastic sacrifices.
there's no need for either "side" to label, taunt or belittle the other.
This I can absolutely agree with.