Three points:
1/ Even with 20 million Scouting, projections are never perfect. I try to remind myself worst-case scenario is that a player ends up ten points less that his projections. (Realistically it's more likely to be around five, but like I said worst case.) At the top of the draft, I'm asking - even if this guy falls short is he still going to live up to his pick?
2/ Everyone gets hung up on projections like they're what a player is supposed to be. I try to think of them more like a way to separate the players you're looking at, at one time. Apples to apples. It's how you break down a draft class or a set of international prospects. Once they're signed, either by you or someone else, their projections are - I don't want to say meaningless, but they're old news.
3/ The system does occasionally generate Catchers like that, because in real life there are Catchers like that. You just have to be a little creative and diligent in how you fit them into your lineup. But I always think your major league roster will have 25 players on it. The 25th guy could be a useless roster filler, or he could be a Super Sub. Up to you to play it how you like.
Some owners would hate to blow a high draft pick on a player who's only going to play half a season, but there's also going to be some owner who's drafting around 30th who's thinking "I hope everyone ignores that guy."