Is that because having a great big man wasn't important, though, or because there weren't enough great big men?
Having a "great" big man was a luxury, not a necessity. Portland was just so used to Shaq going ape on them year after year. When he got traded east, the need for a great big (versus a great guard/forward) diminished.
OK, but nobody argued that Olajuwon should have gone after Jordan. IIRC, the consensus at the time was that Oden was the best big man prospect since Duncan.
Sure, but bigs are very hit or miss (see Darko, Yao to an extent, Kwame. Dwight is probably the last big to be deemed a true success, and Deandre Jordan and Demarcus Cousins will be good, but are they franchise players? The era of big men leading their teams is dying. Also, the most highly regarded draft of recent times was 2003. LeBron, Melo and Wade. Sure Bosh was in the mix, but it was those perimeter guys who completely changed the trajectory of their teams. Durant, even if he wasn't seen as a LeBron talent, definitely had flashes of a Melo or Wade-type impact coming out of college.