Caproom is irrelevant because no free agent worth a damn will sign with a team like Philly. Draft picks also mean little cause the draft is pure luck.
Look at Minnesota. They've been in the lottery for nearly a decade straight and it took the last 2 drafts to land them a potential superstar. And one of those superstars was by trading a disgruntled star.
The problem with Philly's strategy was always the fact that it relied on LUCK. Real life ain't NBA 2K. There are no shortcuts to building a contender. Hinkie thought he was smarter than the game.
You're absolutely, right.
Hinkie's philosophy is a luck based ideal masquerading as a scientific one.
Science is testable, repeatable and measurable. It hopes to remove luck from theory, experiments and so on.
Any reasonable person would agree that the NBA draft is is an inexact science. That's not to say some teams don't draft better than others. What it is saying, is there's an excessive element of luck in draft spots, what players become (or doesn't become) regardless of who's scouted them, who drafts them, etc.
Luck's definition: success or failure apparently brought by chance rather than through one's own actions.

You can say he was trying to maximize luck or whatever. It was still some luck driven end game under the guise of something else.