You don't see it so much anymore, as the slot money system was created to prevent those Matt Bush signability draft picks. It does happen now, but more so with the underslot money in mind. THe most glaring example was the 2012 draft when Houston took Carlos Correa first overall, passing on the large #1 favorite Mark Appel (who would be drafted by Houston first overall the following season), along with others a highly regarded as Correa, including Kevin Gausman, Byron Buxton, Lucas Giolito and Mike Zunino. But Correa was no so much of a reach, as he was often mentioned as a candidate to go first and was a consensus top 6 pick. But Houston took him because he was willing to sign for underslot money, and the applied the savings to their next pick, a projected first rounder named Lance McCullers Jr, who was falling for signability reasons.
The Royals made a similar move, taking Hunter Dozier at #8 the following year despite his inclusion in the first 20 picks of almost no mock draft that season. But they used the savings from his underslot signing to grab a falling Sean Manaea in the second round.
Could Bloom try something similar in this draft? He couldn't last year as he had no second round pick (and yet he still made what many called a reach pick)...