I'm not going to say that "nobody's" waiver list is picked clean, because I don't know all of the fantasy formats out there, but in a 12-team, 14-man roster league you have roster room for 168 players. Starting QB's, WR's, Tailbacks, TE's, PKs, and DTs total 224, and that doesn't count fullbacks, receiving tailbacks, and 3rd and 4th receivers.
The waivers aren't picked clean is such leagues, even factoring in that many players would do more harm than good.
The real problem becomes finding the diamonds in the rough. Will Houston's desire to make Billy Miller an important target get him alot of scoring opportunities? Can Carr get the ball to him against a good defense? These are the kinds of questions we have to ask ourselves as we watch the games and then look at the cold hard stats the next day on the net. I know that watching the Dallas/Houston game I was thinking "this guy Billy Miller is going to be a hell of a tight end", then looking at the stats the next day you see next to nothing and start doubting your judgment.
There isn't enough roster room in the free fantasy leagues to hide all of the talent on people's benches. I am sure that Antonio Freeman is going to be a good contributor later this year, but on some of my teams I've dropped him for someone who will contribute now. Other owners are facing the same decisions, and don't forget that many guys are running with only one TE, PK, or DT and will have to drop someone on their bye week in order to fill a position. Likewise someone may have to release a good WR if one of their starting RBs goes down. Keep an eye on the waivers from day to day, you might be surprised who shows up there, especially if people have trouble trading in your league.