This is a great way to learn about other teams and moreover have a vested interest in more than just your city's team. And since many leagues are play for free, there isn't a lot of risk.
Some leagues have been continued from year to year with the same set of owners/managers of these created teams. My family and friends league has existed for 9 years with the same set of guys, and that is average.
Certain very competitive leagues can take themselves very seriously and include a entrance fee of hundreds of dollars. Other leagues expand the points system of scoring to include team defenses and even individual defensive players.
Drafting in fantasy leagues can be 1 of a few different types. Drafting players can start carte blanche every year, others can allow teams to keep a number of players and still others decide to auction players off. You can see how developed this hobby has gotten.
Maurice Jones-Drew for the number 1 pick. Agree or disagree?