Just like most draft picks, guys are chosen based on a lot of criteria and future need is probably relatively high on that list. When Gary was selected, Gute had just signed 2 high profile free agent OLB's, the "Smith Brothers". Some, including myself, were shocked at the 12th pick in the draft, being used on a position that was already in good shape. As it turns out, Gute knew exactly what he was doing. Gary developed into quite a nice player and Gute was able to cut ties with Z Dog.
I believe he saw the same situation with the Love pick. A QB that the Packers really liked, falls to a spot in the first round, that they could afford to get to. Was he needed right away? Not at all, but I'm sure that Gute felt he would be ready in 2-4 years and if he developed into a starter, Rodgers would become expendable. I really think had Love been blowing the doors off of the practice field and looked like a really good QB, Rodgers would have been traded during this past year of his indecisiveness. Covid and limited practices and no preseason definitely didn't help Love. While it is appearing that the insurance policy Gute drafted may never be cashed in, the rationale for "purchasing" it doesn't get changed to a "he should have known."