Don't get me wrong here because I think 80% of your post is accurate, but I have to disagree with teams being penalized. I think they get penalized when they overpay for their own players simply because they drafted them and they sell jerseys. Diggs is a great example of that. They have a player here that they spent a 2nd round pick on and now have maybe the most valuable CB in the league given his performance/ceiling/contract. They don't have to sign him, and could easily cash in on that value and get a pile of assets and cap freedom coming back their way, much like KC did with Tyreek Hill last offseason.
Prioritizing the draft is an excellent thing, and I love how well the Cowboys have drafted over the last decade or so. The problem is after you still have assets that fluctuate in value and on occasion you have to be willing to cash in on some of those assets. Instead Jerry tends to sell players at their lowest value like Amari Cooper.