To the best of my knowledge it is true. If it is not "officially" true, I know of very few long time managers that bother with the draft after Div III at the latest. When is the last time that anybody saw a really good draft pick here?
My club has a "since existence" net profit on the draft. I don't know what 'really good' means, but most drafts have 1-3 players worthy selling for over 100k. Most draftees that could sell for 1k will sell for 100x or more of that with just a few weeks of 1 pos training to pop a few stats. I think if one wants to use the draft to it's fullest, they should commit to training the picks for half a season, you should be able to make more money.