each american sports i different
baseball sounds much like soccer in regards to contracts. there are no salary caps, the draft matters very little by comparison (cause so many good players arent american and not subjected to the draft is one reason). there are teams who put out terrible teams and turn the most profit (astros for example) and thats ust not good for fans to know youre team is basically purposely terrible
but baseballs players union has fought for, by far, not even close, the best contracts in american sports
as far as the draft it makes sense and its awesome in nba and nfl. worst teams get the best players and usually those players do turn around the franchise. there is so much parity in the nfl its ridiculous, which is great for the sport. strong teams and strong divisions drastically change so fast so if youre a fan you arent stuck in dogshiit for eternity (well save for a few mismanaged franchises like oakland lol)
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So I guess that if a very good college player goes to weaker team and does really well and carries them, there are strong chances that he'll be traded/transferred to a bigger team in the future.
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that rarely happens tbh
chameleon is part right on what he said but didnt add much context. it depends on position how much a top pick can have on their team, but usually the first year isnt a huge improvement because of the learning curve, so they can be bad again and receive another high pick the next year. get a few high picks in there and eventually build a contender (see oklahoma city thunder in nba)