I don't think the argument is long-term success, but immediate impact. The majority of the preps-to-pros didn't justify their pick position, and even those that did ultimately, a good number of them did so years into the future, and some on different teams than those drafting them originally.
I think college definitely helps these talents acquire a better foundation of skill, which enables them to step in and contribute significantly as a rookie. Would Garnett, Kobe and LeBron be any better now than they are currently for having gone to college? Doubtful, but many more are.
And, the primary reason for the rule wasn't for the benefit of the players, but the benefit of the teams drafting in the lottery. One year vs. high level collegiate or international talent gives scouts/GMs more time to scout and better judgment on the players so they are less likely to waste a high lottery pick on a Brown or Diop. The rule's primary purpose was to protect the owners from thinking that every athletic 7-footer or every athletic wing would be the next Garnett or Kobe.

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