In the case of James and the Cleveland Cavaliers (the team that drafted him in 2003) and possibly Davis and the Hornets in the upcoming June 28 draft, the first pick isn't just crucial, it's arguably worth more than the franchise itself.

WSJ: NBA Draft: Does the NBA Really Need It?

Smith, considered by many to be the top quarterback available in this year's draft, wasn't even the first player at his position taken.

NPR: Jets Draft QB Geno Smith In 2nd Round

For all these reasons and more, it's understandable to wonder why, with two first-round picks in this year's NFL draft, the Jets didn't select an offensive player Thursday.

WSJ: Jets Get a QB, But Remain on Defensive