It really differs on the criteria for picking really. If you would do a draft for players currently playing it would obviously be better to go first. Messi, Ronaldo, Iniesta, Xavi. They are well in ahead of any other player.
Participants as a collective have to make a decision re players who are heads and shoulders above their peers. They can decide to
1) include some/all of them (managers picking first will naturally benefit)
2) omit some/all of them (common approach)
3) extend the time brackets to deepen the talent pool eg 70s&80s instead of just 80s
4) selectively add past legends to the draft (untried approach, could be tricky)
It doesn't level itself out completely Polaroid. The Nr. 1 get's the first pick. He then gets 2-3, 4-5, 6-7, 8-9 & 10-11 pick. So not only does he picks first but he's also the first to pick in the last round.
I am not saying it levels itself out completely. We can only try to, as far as possible. In this case, the OP asked managers to pick a squad of 12 players
Nr 1 - 1, 20, 21, 40, 41, 60.....120
Nr 5 - 5, 15, 25, 35, 45, 55.....115
Nr 10 - 10, 11, 30, 31, 50, 51...111
The mathematical summations tally but this should not be interpreted as every team is equally strong because players' abilities cannot be reduced to mere rankings and tallied. When we have something better, we can then improve/change this model of drafting
