It is, but then... there's teams that are in it right down to the last couple games of the season, so... they would earn 0 "draft points" when they were trying the entire time vs a dumpster team that was eliminated with a month left in the season and picked up a few meaningless wins. How would that benefit the team that was in it right to the end when the premise of the system would be to encourage the dumpster teams to be more like the teams who already push to the finish line and just barely come up short?
Its an interesting idea, but would need some tweaking.
Perhaps, you take the win total for the worst team in the game, as in the team that is eliminated mathematically the soonest, and use that wins number on the day of their elimination as the cutoff for all teams that don't make the playoffs. Any non-playoff team gets their "draft points" based on how many wins they end up with above that number.