Surely, you don't really believe either of these statements, do you?
1) You honestly believe that the Patriots wouldn't have traded Ryan Mallett for a 2nd or 3rd round pick---let alone your example of a "number 1 pick?" I don't agree. There have been so many reports that have come and gone, we don't know who to believe. If the WAS Redskins were willing to deal Kirk Cousins (much more established and polished than Mallett) for a 2nd and didn't receive any takers, I'm not sure that I buy the rumors that we turned down all of these offers.
2) This high comp pick that you're expecting (the highest it could be is a 3rd) is taken into account by a forumla consisting of
A--Playing time
B--Post season award/MVP, etc
C--Price of contract
D--On field success
What in the world makes you look at this formula and immediately jump to the conclusion that our backup QB Ryan Mallett is going to factor in the compensatory pick formula in an extremely positive way?
It also should be noted that the team's overall free agent losses/gains is the biggest factor in this formula, so we aren't guaranteed anything at all for losing anyone. It will depend on the moves that we make, who comes, who leaves, and the factors from above.
At this point in time, I wouldn't expect Mallett to bring anything more than a 5th--6th round comp pick at best, and that's IF he gets the kind of 2.5--3m dollar per year borderline starter/backup pact that we all assume.