I don't see any issue with the pick. However, not getting a LB to fill the need in FA would be the issue since you knew he was not going to be available. Let's face it though, we had Hitchens and Lee, issue is, you can't count on Lee's health therefore you needed a FA backup plan.
Not filling through FA is part of a solution, though they signed Durant, and he was the LB they had on the field against GB, but you still could have drafted DL help, another CB...whatever. The point is that they made a win right now pick in the top 5, and then drafted a future consideration at 34, on a team built to contend immediately. If they had a rookie QB, were still fixing the OL, and had no talent, it's a different story.
I will admit that it was a pretty weak draft, in general, but that doesn't change the flawed logic.