I wanted to expand on my comment as I didn't articulate my thoughts well at all (I did it on mobile web and did a poor job explaining myself).
I do not endorse tanking
. And I don't necessarily see Rounder's scenario as straight up 'tanking.' I see it as a plausible strategy that might work very well for this particular league format. There are also other strategies that could work as well, and I am in favor of allowing GMs to draft/auction how they choose, and to run their team how they choose. (Since tanking is usually an unwritten rule, I also encourage leagues to write it down in the rules/constitution so that if it comes up, GMs can be penalized for it).
Now, if the league doesn't want that particular strategy to be used - then let's make it so that it doesn't happen. I still prefer an auction, for the reasons Red laid out, and I also understand Raffrox's point about getting us altogether at once for a live auction/draft.
If it's too hard to get together, and/or the league wants to avoid Rounder's scenario, then let's slow draft it up
Irony is the strongest force in the universe.