It's not small market teams getting steamrolled by big markets that's fucked, it's small market teams run by retards getting steamrolled by big market teams that's fucked.
First of all, the Clippers are insanely retarded for not offering Bledsoe, Minny's pick, and Farouq-Aminu for Paul.
Second, the Hornets are retarded for a) leaving the Lakers enough to trade for Dwight and b) letting the Rockets get in on the act with the DP.
Which is not to say that Pau and Odom would have been a totally unacceptable return, but how do you settle for that when the Lakers are still making out like bandits by trading Bynum and Odom (Dwight Howard opportunity cost notwithstanding). If LA says no and saves their chips for Dwight, then you're not any worse off taking Rondo/Green/picks.
It's probably not the league's prerogative to babysit dumbass GM's, but combining the big markets' leverage (which is to be expected) with braindamaged FO's really results in some extreme railroading.