I watched Phil Jackson play for years when Marv Albert referred to him as Phil "Action" Jackson. He was far from a great player.
You make a decent point about Lenny Wilkins, Torre and Larry but the other guys were not great players at all.
Usually, former players who had to overcome being less talented by paying the price with hard work through the system are in a better position to coach players.
Guys like Tommy Lasorda, Tito, Tom Coughlin etc... make better HC's or managers. The guys who had great talent by definition find it easier to excel and often have a difficult time coaching players who don't have the same talent.
Its not always true, but it usually is.