Just to make you all feel better. Going back to 1994 (I figured that I started paying attention to the draft that year when Montross was drafted) the #5 pick has often been better than, or equally as good as, either the #1 or 2 pick and sometimes both. Some of these are stretches, or results of freak motorcycle incidents or rely on health or interpretation of players as "cancers" but you could make this argument for a lot of players.
Let us count the ways:
2005- R Felton over Marvin Williams
2003 D Wade over Darko and as good as LeBron (This is important to note because it was another hyped superstar draft)
2002 Tskitishvili and Jay Williams both turned out to be disasters. It's equal
2001 Jason Richardson over Kwame and Tyson Chandler. (This is notable as the only other year a #2 worst team fell to 5th)
2000 Mike Miller over Stromile Swift and sorta Kenyon Martin
1999 Jonathan Bender over Steve Francis if you think of the guy as a guy who actually makes you worse, which he is with the Knicks. At least Bender's contract ran out like a good little bust
1998 Vince Carter over Kandi and Bibby
1997 Battie over Keith Van Horn. Well who's still around as a role player and who was called soft on national TV?
1996 Ray Allen over Iverson and Camby. I will fight over this
1995 KG over Joe Smith and Antonio McDyess
1994 Juwan Howard equal to Glenn Robinson. It's close
So there you go. It actually happens almost every draft in one way or another.