I like having stars. Last year I had A-Rod, Kinsler, Morneau, Carlos Lee, Haren, Soria, and Santana on the same team. That's WAY more fun than having a bunch of Jason Kubels and Luke Scotts. It's still challenging to work the waiver wire and pick up the next big thing..
The good thing with the 20 team leagues, though, is that the star players mean a whole lot more. It's because the Kubels and Scotts are common that players like Pujols/Kinsler have huge impacts. In 12 team leagues their impact is reduced substantially because teams are loaded with stars. And it doesn't take any brain power to load a team with stars in such small leagues, it's automatic.
20 teams would be ridiculous.
It's not like this is the first try with 20. We've done it for the past several years and it's worked well.
Just think of how insane that draft would be. Teams 1-5 and 15-20 would be screwed and there would be no draft strategy at all. Gotta give everyone a fair chance to form their teams the way they like.
I drafted 3rd in '06 and had a .695 regular season and made it to the finals. I drafted 5th in '05 and won it all. So I don't see any unfairness in drafting early or late. Plus you can bet I had a strategy in both of those drafts.