I don't think that's really the story behind IT. IT was taken last in the draft because he was too short, and nobody thought he could continue doing what he was doing. He was a three-year college player, and he was a scorer right out of the gate at Washington. He improved his efficiency over three years to where he put up a PER of 22.9 the year he left for the draft (and don't forget Gus Johnson's infamous "Cold Blooded!" game winner). If a 6'2" PG had put up the numbers IT did in college, he would have been a top-5 pick, easy.
Then he got the NBA and put up numbers right from day one. He had a PER of 17.6 as a rookie. Sure, he got better over his first six years in the league before getting hurt, but it's not like he was a dud to start and had to develop. He was already a great player when he got to the NBA, and he didn't get drafted #60 because he had to develop his potential. He got drafted #60 because he's 5'9" and nobody believed he would translate to the next level.