Steve Young was on the SVP show last week and said that, on his list of attributes a QB must have, arm strength is about #10.
Of course, Steve Young isn't drafting anyone, but his opinion should hold some weight.
Young was coached by Walsh too. And his opinion is valid.
Fact is, it's simply easier, and better for job security, to have a guy that supposedly has all the tools, than a guy that's a project, or not a prototypical guy with all the tools. It's easier to alibi a guy with all the tools "just not living up to expectations" than it is drafting a guy that puts you behind the 8 ball with the fans and ownership from the start. Draft a guy like Moore, especially high, when everybody that supposedly knows says not to, and you fail, you not only "can't coach", but you're an idiot too.