If your goal is just to accumulate talent without regard to winning, then I agree with you. The team that you built may not win many games, but it has enough young talent to maybe trade for a disgruntled star.
But I think the 04 Piston is an anomally; help greatly by a very weak eastern conference and the choking of the Lakers. There's likely not another champion team like that Piston team for another 30 years. Unlike the Piston, we are stuck in a very strong conference for the next decade. The 04 Piston would have trouble making it out of the western conference.
But there is no sure fire way to land that franchise player. Nowadays, disgruntled stars want to team up with other big stars. I don't see KG or Kobe fighting to go to Charlotte or New Orleans, even though those teams have young deep talent. For a team like us, the best and probably only way to land that future hall of famer is through the draft. Last season, one loss, one, separated our ping bong balls from Portland's. If we put ourself in a position to land the #1 pick, a simple stroke of luck can change this entire franchise. But we have to pick the right year too; for example, I don't see any franchise player in next year's draft. A lot of stars, but no one like Lebron or Oden.