Here's a thought, make teams ineligible to receive the top pick or top 3-4 picks if they already have an all NBA first team or maybe first or second team player.Thanks for the thoughts!! I think you've understood and analyzed it well.
I think you're right it would create some weird dynamics, including the best teams perhaps trying to tank a bit toward the end in hopes that they can catch draft magic in the small, but slightly higher odds.
I'm still not sure what can be done about the issue of not risking creating superteams while at the same time getting rid of most tanking (without completely changing the long-time principles of NBA CBAs, which seems unlikely to me).