Looking back at the history of the 28th pick in the NFL draft, there really haven't been any "busts." You have to go back to 1978 to find a true "bust" at the 28th overall pick, though Denver's Sylvester Williams (2013's 28th overall pick) still has time to make that entire statement incorrect.
Sure, there are some players who have been drafted with the 28th overall pick who didn't go on to have fruitful NFL careers due to injury, but that doesn't define a bust. The Broncos themselves have had a great draft pick at 28th overall (Trevor Pryce in 1997), and I don't see this season being any different.
What Denver hasn't done during the John Elway Era is draft for need.
In 2012, the Broncos traded out of the first round twice (once with Dont'a Hightower on the board at 25th and again with Doug Martin on the board at 31st) with two glaring needs available, ready, willing and able for the plucking. If you'd like to argue with me about Doug Martin being a need, please see the third round of that draft where Denver drafted Ronnie Hillman or the 2013 draft where the Broncos drafted Montee Ball in the second round.
Or you could just look at the end of the 2012 season in the Divisional Round of the playoffs against the Baltimore Ravens where Denver had a 21-year-old rookie in Hillman playing extended time due to Knowshon Moreno's injury. All while Martin was at home watching the game after a career year for the Tampa Bay Buccaneers.
Have you ever heard the story of when Bobby Knight, who had just run a first practice with Michael Jordan prior to the 1984 Summer Olympics, called up Portland Trailblazers' general manager Stu Inman?
According to Wikipedia (via Big Al Williams on KKFN), Knight said Jordan was the best player he had ever seen. Inman (who had Clyde Drexler and Jim Paxon at guard) said, "I need a center."
Knight said, "Well, then play him at center."
John Elway, the son of Jack Elway (who spent six years in the Broncos' scouting department, 1993-1999, five as the Director of Pro Scouting), has yet to draft for need as the general manager in Denver.
Elway has even not gone need to a fault. See last season when the GM drafted Bradley Roby in the first round, despite using a high pick on Kayvon Webster the year prior plus having newly signed Aqib Talib and recent break-out Chris Harris on the roster.
This means that Michael Schofield in the third round of 2014's draft was the best player available (at least to the Broncos) and Denver will expect him to perform as the best right tackle on the team. If he fails, it's on veterans Chris Clark and Paul Cornick to step up in his place. Also, with this new offensive line, Cornick or Clark could be perfect fits, no one knows... Well, the Broncos do apparently as they've both been re-signed.
The history of the 28th overall pick
Kelvin Benjamin (WR- Carolina Panthers), Sylvester Williams (NT- Denver Broncos), Nick Perry (OLB- Green Bay Packers), Mark Ingram (RB- New Orleans Saints), Jared Odrick (DE- Miami Dolphins) and Eric Wood (C- Buffalo Bills) have been the last six players drafted at 28th overall. Since 1980 four defensive tackles, four cornerbacks and five defensive end/outside linebackers have been drafted at 28th.
Who will the Broncos pick?
My money on who the Broncos will end up picking in the first round of this year's draft? With not one, two, but three tight ends signed thus far this year, I'd assume that the best player available will end up being a tight end at 28th. Just a hunch.
Or you could go really wonky and assume that given the amount of time the team has spent with quarterbacks, Bryce Petty is our team's first-round selection.