Again, if that's the one and only example, what problem are we trying to fix? A case could be made the Colts could finish 3rd in their division this season. They could easily miss the playoffs for a 3rd straight season. There is simply no example of tanking that has worked so well for a franchise that anyone should care.
But wait a minute, let's not confuse things. The fact that the Colts have not been doing well lately has nothing to do with the fact that they tanked for Luck, it has to do with the fact that they are incompetent from top to bottom.
If they really tanked for Luck, they wanted the 1st round pick and they got it, they achieved that, mission accomplished. Period. End of story.
From that moment on it's a new story.
A good QB can turn a bad franchise in a playoff team instantly, but we know things are more complicated than that to win playoff games and the big one, otherwise Tom Brady would have to be taking measures of his feet fingers because his hands would be full of rings. We have the best QB of all times and coach too, and that's not enough to win sometimes, most of the times actually.
The Colts had by far the worst GM in the league for years until very recently and couldnt draft well to save their lifes. That among ownership problems and bad coaching resulted in this mess. The reality is that they have been one of the worst franchises in the league but it doesn't appears like that because they have a QB, without Luck they would be the Browns or Jaguars.
Let's not forget that getting the top position in the draft not only gives you the #1 in round 1 but also in all rounds, getting the first pick in rounds 2 and 3, even 4, also gives you a good shot in getting a decent player. That draft was deep in QBs, Luck, RG3, Tanehill and some other QB were taken in the first round so that pushed a few 1st round talents to round 2 probably. That was a deep draft. You can't do much better in the draft than drafting a franchise QB and some other impact players. The Colts could not built a quality roster from that point on.
Luck in a franchise with middle of the pack coaching and GMing would have a better career by now than what he built so far and probably would not be ruined, I think he is almost done now that he has a bum shoulder. I'm not saying he would have won 3 SBs because I don't think he is in the same league of Brady, Rodgers or Brees. But he is a franchise QB, a talented one, that's not up to discussion I think.
So back to my original point, the fact that they have been sucking except for a year or 2 that they made the playoffs, has no correlation with the fact that they supposedly tanked to get Luck.