The only other situation I can think of like this in Pro Sports, is in Baseball with the Compensatory Picks if you lose a Free Agent.
The way it works in MLB is: if you sign a Free Agent in the Off Season, he is catergorized as either a "Class-A", "Class-B" and "Everyone else" Free Agent.
Depending on the Class of Player, the team signing that player may be forced to give their First Round pick to the team losing that Player (Class-A), or simply the Team Losing a Player gets an extra Draft Pick in the "Sandwich Round" (Class-B).
The way they determine the 'Class' of a Player is by determining whether or not they are in the Top 20% of their respective Position (Class-A), or outside of the Top 20%, but still in the Top 40% (Class-B).
However, and this is where it gets murky, the way they are ranked by position is by using their "Rating Score" which is essentially calculated using all sorts of Baseball Metrics (Go
here for full explanation if you like.
This is the ONLY way I could see it being done). These are generally Very Advanced Stats, and if you read the break down, they are almost invented solely for the purpose of rating the players. Basketball would have to do the same.
The other thing you have to consider with these 'tiers' is whether or not a guy IS part of that tier or just had a "contract year".
In baseball, some of the ratings take into consideration consistency over a stretch of up to 3 years.
Again, this is something that would be crucial to having a fairly Tiered system.
And this is where the system right now is broken. You get the Eric Dampiers, the Yogi Stewarts and Eddy Curry's.
Baseball it doesn't matter if one guy tries to put up unbelievable stats. Generally it will ONLY help the team. (See
'Steroid Era')
In basketball, if it were just the Basic boxscore stats, it would almost certainly work to the opposite effect, and have a very detrimental outcome on the team and players.
I don't know if you have been following the ESPN #NBArank or the 2k Sports Ratings, but these guys' Ego is about as Fragile as a piece of wet paper.