Agreed on the first part. However, if elite players is the expectation then I would say one must look at the entire draft regardless of round. I know that some people place high expectations on the first one, but the goal is to get 6-8 players out of each draft with the stipulated rookie cash pool. It really shouldn't matter where you get them as long as you get them. If the Packers busted every time in the first round and then drafted HOFers in the 7th round each year, I really don't think it should matter. The goal was still met.
In terms of TT's reign, I think that five players would qualify as elite: Rodgers, Matthews, Nelson, Finley, and Sitton. Out of eleven drafts that seems decent to have drafted five as it's not reasonable to expect an elite player in every draft. I wonder (out loud because I don't know the answer) how many teams have done that, or still have four elite players on their rosters? Maybe we are below the mark. Not sure. My general sense is that most teams have a couple elite players but the championship teams have lots of good players at the other positions and especially good depth.