Nobody wants the number one overall pick. It is so expensive to sign your guy and if you don't get the pick right, it will set your franchise back years. The cost of moving up would be too great as well.
And in your scenario, trading Peters means we have to take a LT. All we did was create another need and now we have to hand out a contract bigger than the one Long got. It will be a $12M per deal, which is somewhere around what Peters wants anyway. We'd be better off just giving Peters the money and keeping our 11th to address other needs.