Obviously no current club would behave that way nor any in the past but there's clearly opportunity there for multiple clubs to collude to game the system over several seasons.
With free agency, the system will create draft picks for you that didn't previously exist. In theory you could mine draft picks by making high offers to each other's free agents. It would look super dodgy if you did it in the same season but spread it out over a few years and no one would notice.
With Essendon blowing up the whole pseudo science side of football, drafting and recruitment seems to be gaining momentum as the new battleground for ethics so eventually someone will try it.