If the value isn't there though, you have to make the pick. 16th overall in this draft will bring the same level of prospect that your average ~10th overall pick does, and unless someone ponies up appropriately, make the pick.
To establish that earlier point, let's look at some examples.
Bo Horvat went 9th overall in 2013 as a C with a two-way reputation, some size, and some grit. Jansen Harkins could be available at our pick with the same reputation. Horvat scored more goals. Harkins scored more points.
Derrick Pouliot went 8th overall in 2012 as a primarily offensive D who wasn't a shrimp. Jeremy Roy, same height, same reputation, lower current weight (not sure about draft weight), but with higher production.
Jonas Brodin went 10th in 2011 as a two-way D with great skating. Oliver Kylington had more points in half as many SHL games with the same reputation for skating and two-way play.
The first round of this draft is an absolute monster. Unless someone pays you appropriately, like Schneider-for-Horvat appropriately, you're losing value. There's something to be said for minorly losing a trade for the better of the team, but make damn well sure the difference is only minor before pulling the trigger.