While logical is probably the wrong wording this is a possible scenario with some highly probable variables in it.
Rondo coming back and being Rondo is extremely possible if not likely.
Drafting someone high, even in a draft class loaded with top end talent, that turns into a bust, happens all the time(Darko, Marvin Williams, Michael Olowakandi) so that is a likely scenario as well.
Drafting a superstar and having them leave for bigger and better things because they are impatient with management is probably THE most likely variable out of all the OP discussed(Lebron, Howard, Bosh, KG, Chris Paul, etc.).
So is this scenario possible? Absolutely. Is it likely? No, because every scenario coming true is probably not going to happen. But many could which makes a full fledged tank a seriously bad idea.