^Hearthstone has a draft. It is called arena. I agree that the overall gameplay is simplified compared to MTG, but the depth shouldn't really be judged right now. It is in beta. There aren't many cards.
The more simple nature of the way mana works allows better strategic building in the short term (which is what gamers are into now). They don't want to have to put in hours figuring out all the possible weaknesses of their deck and the near endless great combinations they have to account for. They are working on this.
Also, card balancing does favor the legendaries, at the moment, but as more cards and entered and the game is better balanced, that will change. And, with this being only online and with no marketplace (yet), balancing cards isn't a huge deal. Sure, it might "ruin" your favorite deck, but that deck didn't cost you $500 and you don't have to go buy the new version of your card because the OP version you have is antiquated.
At first, I assumed constructed would be just as P2W as MTG currently is. However, it is a bit better. Rather than P2W, it is more like P2W sooner, skipping the grind to craft the better cards.