You could actually put together a decent squad pulling players from teams. I mean look at a team like the Warriors
Curry, Thompson, Wiggins, Draymond, Wiseman
Looney, Kuminga, Moody, Poole, DiVincenzo
That is 10 solid players, so 2 would be open (obviously DiVincenzo and probably Looney).
Clippers are probably only protecting 1 of Batum, Zubac, or Wall
Someone like Paul Reed or Harrell would be available from the Sixers. Or Harenstein, Fournier, Rose from the Knicks.
Strangely, a team like the Thunder would have some decent players available as their 8 would probably be SGA, Dort, Chet, Giddey, Dieng, Williams, Poku, and Mann which leaves some solid vets like Favors, Muscala, or other younger guys like Maledon, Jerome, Robinson-Earl unprotected. The Magic would also have some decent players unprotected.
Obviously you aren't getting any stars and the teams aren't going to be playoff teams, but I do think you'd be able to get some quality depth that you could actually keep some of long term, instead of just being a dumping ground.