There are two different kinds of drafts when it comes to contracts. There are the internal drafts where the WotC lawyers wrote the contract, reviewed it, made revisions, reviewed them again, perhaps sent them to someone else in the firm for review and further revision, and so on. Then they had the final version of what WotC wanted to see happen. That's what was sent to the 3PP. So while it wasn't a final signed contract, all the bad stuff in it is what WotC finalized internally and tried to make happen. It's not really relevant to the issue that there was the potential for the 3pp to try and negotiate some terms(if WotC was open to any negotiation at all).
Edit: When WotC came out and was like, "But it was only a draft!" they were being deceptive via that technicality. They were trying to pass it off as something it wasn't. It was a contract that they wanted to happen as written.