The draft pick is no longer a factor. It's been spent, move on.
You seem to want to consider this as an undeveloped investment that must be protected because someone is going to steal it. That's like protecting a mix of flour and water because with a few more additives and some baking it will be bread, and people steal bread.
You have two "loaves" who have played well in preseason, have been there just about every day in Training Camp, and you've invested in them too, two seasons for Connolly and one for Wendell. You are arguing for a kid who hasn't been there in Camp, who is playing catch-up by BB's own statement, who has had substantially more limited reps in the preseason and looked like a rookie when he did play. Yes, you traded a starting CB for two picks which you traded for a late 4th to draft him. Yes, you'd like to keep all of your kids, but BB has already let a 4th round pick go in his first season - Brown - not that long ago. When does it make more sense to let him go, when there's a glut on the market or later in the season when you realize he's still not ready? Orhnberger was drafted needing to get stronger and put a few more lbs of muscle on his frame, he can do that on the Practice Squad as well as he can on the inactive list.
Is having a fourth round prospect claimed off waivers the absolute worst that can happen? Just what did NE lose when Brown was claimed off waivers by the Jests? If the kid isn't ready to play, what does it matter? If he is ready to play, and he's still behind the other two, what does it matter? This is no longer about a 4th round pick vs two undrafted guys, it's about which two C/G candidates are ready to start if one of the three starters goes down. The choice is Wendell, Connolly, Yates, Ohrnberger, and Bussey - two Day Two rookies and three developmental projects who Dante has reclaimed and brought to the point where they have been competitive. If you think Orhnberger is ahead of the two, or even one of the two I've selected, that's your guess - I'd put Yates ahead of him at this point, and Billy has been up and down in preseason.