I disagree with the entire premise of the Rule 5 being worthless. It's not designed to net you stars, even in real life. I've used Rule 5 in several worlds, with contending teams and had good success with them.
Fingers World:
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Tiny Edwards is one example of a guy who has contributed substantially...mostly with his glove and running the bases. Won 105 with him as a 2B/CF regular.
Hamilton World:
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Brett Mordecai was a Rule 5 pick. He was waived by the drafting team and claimed by my team. He's been a very solid contributer for multiple seasons. Elite base stealer, adequate stick.
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Alex Cruz has been a part-time defensive sub - again very valuable within the context of that team's system.
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Chris Guerrero like the first guy on the list. Great defender. Excellent baserunner. Another contributor and fits the system.
All of these guys below also played regular roles for me.
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Otis Torres (elite base stealer, holds his own at the plate)
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Pat Brush (one real good year the year I drafted him - now AAA insurance)
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Tony Cervantes (Great SS D at draft time and for a few seasons)
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Orber Forrester (Great SS D, see above)
By themselves, not much. But within the context of the team and its needs, every one of these guys were worth having.
None are stars, but the Rule 5 has been far from useless for me. Every season they've been involved on a contending team - not a rebuilding one. There is value in the Rule 5. You just have to know what can help your team. With a late pick, I never expect to get a future star, but in many cases, I can find someone who can contribute in some way.