The problem with the whole philosophy is that it assumes player development to be exogenous, ie in a vacuum, completely unrelated to organizational culture and stability.
A point already made: rookies can bolt in free agency after their rookie deals expire. What exactly is the incentive to stay with a perennially losing organization when your rookie deal is up? You'd make more money on a max contract by staying, but if you're good enough to get the max, that extra money probably isn't enough by itself to keep you around.
Rookies can't just bolt in free agency. They are restricted free agents so their existing team is able to match any offers. The only way around that is if the rookie chooses to take that the minimum qualifying offer in their 5th year which rarely happens. The best rookies, like Davis, get Max extension deals and don't even make it to free agency.
Right. How many examples do we have of superstar players bolting after their rookie deal is over by taking the qualifying offer when they hit RFA and then becoming a UFA the next year?
Greg Monroe did it, but he's no superstar, and it's debatable whether the Pistons really wanted to extend themselves very far in order to keep him anyway.
True. But how many superstar players were on a team that wanted to be as bad as Philly wants to be?
I think the motivation to sign a short term contract with another team, so as to have some freedom if Philly matches, will certainly be there.
So, instead of taking the qualifying offer, you're signing an offer sheet for 2 years, with a 3rd year as a player option, with another team. And after those two years you're free to leave, or at least you have leverage to demand a trade.
If they don't start trying to win games, I think that's what'll happen with Noel.
Star rookies (Cousins, Irving, etc) are often on bad teams but they still sign their extension offers. Money talks. Players don't turn down 5yr/100+mil extension offers. If Noel does make it to free agency, the Sixers have the option of making a max qualifying offer (like the Bulls did with Butler) which forces any offers to be at least 3 years without options. Rookies just don't have much leverage.
But that's assuming star rookies getting offered the max. There's many examples of players on their rookie deals asking for trades or leaving in free agency looking for more money or more playing time/bigger role.
Ben Gordon, Josh Childress, Tyreke Evans, James Harden, Reggie Jackson, Enes Kanter.
We just saw Jimmy Butler turn down an extension last year hoping for more money (and it worked).
First step is to see if Nerlens Noel gets a max deal (guys like Al Horford and Joakim Noah didn't). Then does Embiid get a max offer after playing only 2 full seasons at the most? By year 2, is he really going to show he's worthy of a max after not playing for 2 years? Look at Greg Oden in Portland, or even Eddy Curry in Chicago. When you have major health issues, you don't automatically get a max offer, or a great offer, from your current team (unless maybe you're Gilbert Arenas).
The Philly situation will be very interesting over the next few years.