I think it would be cool to see draft pick trades. Competitive balance picks can be traded, just not for cash. For example, in 2022, the Rays traded Austin Meadows for Isaac Parades and the 71st pick and the Braves traded Drew Waters, Andrew Hoffman and CJ Alexander for the 35th pick.
Extending that to regular picks would be a good idea imo, teams could put together more compelling trade packages or a contending team could ship out a pick and its slot value for someone ready to contribute. The MLB draft is a crapshoot to be sure but so are the other leagues' drafts, those guys simply play sooner, but I can think of plenty of examples where I'd rather trade for a first round pick than a 19-year-old in Rookie ball. There would have to be regulations so that teams can't trade picks 10 years down the line, or only be allowed to trade in the first 10 rounds or something, but another thought is that I'm sure there are teams that would trade up in the draft to take someone who is going to demand over their slot value and I bet they'd find willing partners who do not want to spend the slot value amount.
Frankly, I see no reason why draft pick trading doesn't exist except that protects teams from their own incompetence, mortgaging the future for garbage players. You see this quite often in the NBA, one infamous example being the Nets trading 3 unprotected first round picks to the Celtics for Kevin Garnett and Paul Pierce. Those players made Brooklyn worse whereas the Celtics drafted Jayson Tatum and Jaylen Brown, two superstars currently leading the best team in the league. The Bulls also gave up several first rounders for Nikola Vucevic putting the team in (imo) a worse position than the White Sox are in. Still, it adds an extra dimension to player transactions -- maybe the Reds have a more appealing offer for Cease if they can offer the 2nd overall pick.