No way. People forget Favors went ahead of players like Cousins, PG13, Hayward. Favors was a blue chip prospect. He might have not hit the very top of his projection but he's still a top 30 player in the league when healthy. There aren't 10 players in this draft that are going to get to the level Favors is now, let alone to the level Favors was projected to be at draft day.
And BTW I don't think there's anybody around who thinks higher of this draft class than me. I've said I'd trade Favors for a top 3-4... maybe 5 pick, but I think things get more sketchy after that and the chance is whoever you draft won't ever come to Favors' level. Saying a player that teams should draft outside of the lottery is going to be better than Favors or is Towns-like sounds asinine to me. If you value him this high, he's not an out of the lottery prospect - he should be at the very least top 10 pick and more likely a top 5 pick.
If you look at positional talent distribution and overall impact potential in league and draft then you see there's been an influx of high level wings that are closer to PGs than bigs. You have a high entry level at PG but a generation of PGs is aging and may fall off a cliff in a few years. This draft contains a ton of guards(Fultz, Ball, Smith, Monk, Fox, Ntilikina and probably some more). Some of those will probably bust, but if a handful of those are starting caliber and better that's a deep draft on this position.
The NBA right now has a lot of wings in the middle/apex of their career like Butler, George, Leonard, Thompson, Durant, Hayward. There's a huge demand for those guys and the next gen right now is basically Antetokounmpo and Wiggins. Some other young guys like Porter(None else comes to mind spontaneously) have potential to grow and are young enough to make a sizeable jump but most have huge question marks attached.
'17 features a group of interesting wings - Jackson, Tatum, Isaac and Anunoby. Probably some more I don't know about ot that'll establish themselves later. Teams will want to have one of those. A ton of teams go the "either we have a wing star or we take a stopper" - preferrably one who can shoot from 3. Even some in between guys will be interesting for the league. Guys like Gay and Green started a lot of conversations about upside, attitude, consistency and overpaying.
The league has seen a ton of new age bigs in the last year to the degree that the first are rotting on beneches(mostly in Philly, but still...)
This draft still offers some high profile hit or miss prospects late in the first. The interesting result of that can be that it offers a perennial contender like the Cavs, Warriors or Spurs another gem which will allow them to restructure their roster in the most efficient way.