As a big time lifelong Chicago Bulls fan, I have to respond. I will agree with you that Wilt was indeed the greatest NBA player of all time. His numbers can't be approached. Much of it had to do with the fact that no one had ever seen anyone his height who was that coordinated and athletic, but that wasn't his fault.
Jordan was probably the greatest WINNER the NBA has ever seen. Much like Wilt, he was a freak athlete, but it was his will to win that sets him apart. As a Bulls fan who was standing in front of the TV watching every game in those title runs, I can tell you that Jordan LED that team like no single player has ever led another NBA team. Jordan got the most out of his AND his teammates abilities, and, like Wilt, he could do whatever he wanted on a basketball court. Remember the year he had like 23 triple doubles out of his teams final 30 games after Doug Collins moved him tp ppint guard? Remember the year he told everyone he would be a better 3 point shooter, and he shot 38%?
Comparing Wilt and Jordan is kinda like comparing Peyton Manning and Joe Montana. I don't think the NBA has seen its Tom Brady yet. IF Lebron had won each finals he was ever in, he would be Brady but he hasn't.
That all being said, I looked at each season of Wilt and I still believe that $11 mill is an ok limit. Any season he had under that was not completely ridiculous as a #1 overall pick of this draft. Over 11, yes, but under 11 is not that outrageous. An advantage? Sure, but whoever gets the top pick in any of these drafts has an advantage of sorts. I also feel that in this decade league, the talent gap between 1 and 47 is greater, so yeah sure the top pick gets Wilt, but then their 2nd and 3rd picks are basically stiffs.