No, the draft should not be done away with it. Whatever shot a team like Milwaukee, San Antonio, Portland, Sacramento and of course, New Orleans, has at being a champion or just plain competitive team, goes right out the window. We never even get CP, AD or Zion in the first place if there's no draft.
The draft is fun. The fact that we have this 27 page or whatever thread is proof of that. The amount of players who just want to celebrate their dream come true with their family in the green room far outweigh the few who whine and complain about where they land in the draft.
That being said, your assessment about the common fan complaining about divas on draft day is correct and it spills over into all elements of the NBA. This board used to complain about their being no hard cap and hated guaranteed salaries but failed to realize that restricted free agency and the rookie cap are two of the best things, along with a 5 year limit on those guaranteed contracts, for a market like New Orleans.
FWIW, for those who still want no guaranteed contracts, big market teams could just waive all their players in any given year, get down to a $0 payroll and just keep building superteams all in one fell swoop. Guaranteed contracts work very well when you limit contracts to 5 years and 4 for FA's switching teams.