I think the disconnect in this argument is the attempt to attribute success to the drafting of a single player. Football is the true team game. A top QB can only become a future HOF prospect if you continue to build the rest of the team properly. Having quality coaching is also pretty darn important. Let's just toss that out there for fun, as well.
So, IMO, if you really think Luck is the next great QB; you take him. But, you don't stop there. You stack the team with the right talent and most importantly get good coaches hired to properly utilize those players. Unfortunately, does anyone really think that Modkins and Edwards are Super Bowl caliber coordinators? So, there's going to be a huge confounding variable in any player evaluation on this team until we get better coaching in here.