So long story short, there was a vote to contract the league to 28 teams after 2001 and the teams cut would have been the Expos and Twins. If this had happened, the players would have been subject to a dispersal draft. There might have been separate drafts for major and minor leagues but for this topic I'm just assuming everyone in the entire system goes into the draft. Here are those two rosters after 2001:

https://www.baseball-reference.com/teams/MON/2001.shtml

https://www.baseball-reference.com/teams/MIN/2001.shtml

I'm going to assume contracts would be the same, as would service time for minor leagues. If it was done like the June draft and the worst record got #1 pick then it would have either been the (Devil) Rays or the Pirates.

Top contenders from each team.

Twins: Joe Mauer is their best prospect, #7 in MLB after 2001. Brad Radke is probably the pitcher with the best long term track record, but he was on the decline. Joe Mays was 25 and coming off a great season. Corey Koskie of was he underrated fame led the team in WAR but was 28 and that was his career year. If you could see the future, you'd probably take Johan Santana, but in 2001 he hadn't shown any of his Cy Young potential. Christian Guzman is an unlikely pick but he was 23 and coming off of an All-Star year with an eye popping 14 triples. Torii Hunter was a 25 year old Gold Glove winner with 27 HRs.

Expos: Vladimir Guerrero is probably the universally acknowledged best player on either team but his contract only ran through 2003. Their best prospect was Brandon Phillips, #20 in MLB after 2001. Javy Vazquez was a 24 year old coming off of a 200 K season.