In the past 3 years here are the QB's that were drafted in the first 4 rounds:
2013 - EJ Manuel, Geno Smith, Mike Glennon, Matt Barkley, Ryan Nassib, Tyler Wilson, Landy Jones.
2012 - Andrew Luck, RG3, Ryan Tannehill, Brandon Weeden, Brock Osweiler, Russell Wilson, Nick Foles, Kirk Cousins
2011 - Cam Newton, Jake Locker, Blaine Gabbert, Christian Ponder, Andy Dalton, Colin Kaepernick, Ryan Mallett
The bolded names are all starters for their teams, the names I italicized have stepped in and either started or played when the starter went down with injury. I didn't include the 2013 draft picks on the starter list because we don't know, but if I had to guess EJ Manuel may end up being the day 1 starter, Smith and Glennon could potentially be the starters by the end of the year and Landy Jones may see some time for injury relief.
Of the ones bolded Weeden, Gabbert, Ponder, and Locker are the worse of the bunch...and Ponder still led his team to the playoffs. Foles and Cousins have shown promise in the time that they have played.
QB's can be found, you are going to get some guys who aren't that great, you are going to get some guys who can get the job done and be average to maybe even a solid QB, and if we can get lucky we can snag a franchise QB. Point being if our front office sticks with the mentality of there is no one better out there and not take a shot at a QB then we won't ever know who we can get.
I was all for drafting a QB this past year, so we can have that back up plan if Cutler doesn't improve or even regresses. Since we didn't draft a QB, there is no point in handcuffing us to a player who just isn't improving on his weaknesses and taking us to the next level. I'm not saying we are guaranteed to find that QB to take us to the next level in the draft...but if we can get someone who can give us similar production for a lot less than what Cutler would cost than why not?