Vazquez was a Type-B free agent and the Yankees offered him arbitration, which he agreed beforehand to reject. Now that he’s signed with the Marlins it guarantees the Yankees that pick.
This is good news for a team that will likely lose their first round pick if they sign Type-A free agent Cliff Lee. The pick they are getting cannot be lost no matter how many free agents the Yankees sign and is expected to be somewhere around 50th overall.
Last offseason the Yankees gave up Melky Cabrera and two minor league pitchers for Vazquez and Boone Logan. The deal was largely a bust, but this draft pick somewhat salvages it. Melky Cabrera had a downright dreadful season and LHP Mike Dunn throws hard but doesn’t know how to throw strikes. RHP Arodys Vizcaino is very talented, but needed elbow surgery last year.
So while Vazquez was a bust, the Yankees did get Logan out of it and now they have a guaranteed early draft pick.