I think there are a number of variations with this theme. I could see a future version where each owner would only have a 10-year time frame and would have to pick at least 2 but no more than 3 players per year.
Although there wouldn't be as much overlap in duplicated years, the years that did overlap would now see 6, 9 or even 12 players from a single year to be chosen. So instead of just the "very best" players in a year that get picked, now some additional "really good" players are also rostered. I've already tried picking the best 1996-2020 roster of players that went undrafted. Some really good options still left.
The key in this type of draft is to keep your end point years flexible for as long as possible to see where others are at. Will be a lot easier being the only person picking from a year, than fighting vs 3-4 others picking from the same season.
FYI - I am also glad we eliminated the dead-ball years. HR hitters actually now have a chance to hit the occasional HR.