Not sure I see why this is a huge advantage for the teams that draw early draft slots. And I can almost never imagine why it would be in your interest to use your early 1st round pick to redraft a player you had just cut, for a shorter contract...in the process passing up on the best rookies available in the draft.
One could just as easily argue it's a huge advantage for teams that draw later draft slots - they can comfortably keep players they otherwise would have dropped if they were hoping to draw an early pick. And, to the extent that teams with early draft picks are cutting more players than they otherwise would, that deepens the draft pool for those with later picks, making those picks even more valuable than they would otherwise have been.
Further, this applies equally to all teams, since everyone has an equal chance of drawing the early picks, so again, I don't see this as giving anyone an innately unfair advantage.
All of that said, I am open to changing this over time. This entire prog is an experiment - it combines two ideas (completely randomized draft order, limited supply of contracts) that are rarely seen individually in progs (and to my knowledge have never been used together). I fully expect that some owners will find creative strategic ways to use these rules to their advantage over time. Should that happen, we always have the option of tweaking rules down the road. Personally, I'm looking forward to the challenge and to seeing what people do.