LiquidLarry2GhostWF
Highwayman
You added the part about the Thunder and I think that's key. You can become the Kings, but you can also become the Thunder.
Roster construction in the NBA is weird. It's super weird and it's hard unless you have a top 5 player.
I think, yeah, it's hard to say it's a great way to build a franchise if you are waiting every year for a 20% chance of grabbing a star player but I'm not sure signing or trading for a bunch of guys (and still not having one of those top 5s) to give yourself a 20% chance of winning the title is a great idea either.
It keeps you competitive, butts in seats, and you're in the playoffs with a chance to win every year. Outside of maybe two or three fanbases in the league (the Lakers, Celtics), they'll all take that over consistent mediocrity or worse, constant tanking.