It's not an absolute for either stance, not all walk-ons are created equal.
When I was wrapping up at OU, there was a kid who went his first two years there but then transferred to be at UCO...ended up making all-conference as a senior I believe. Fraschilla isn't nearly as good as him, not even close.
Do you know what anecdotal evidence is? Franschilla might be the weakest of the walkons, but, he was a decent HS player. And he is a lot better now than when he came in.
Non basketball players can beat basketball players at a lot of things. But, basketball isn't one of them.
You are making a long distance mistake by undervaluing the abilities of the current group of walkons.