ShineDEX

No. The rating you get has essentially no correlation with how strong your deck is. Sadly, artificial intelligence is pretty far away from being able to offer meaningful feedback on how good your draft went. The only real way to get a good idea of your deck quality is to play it. However, once you're acquainted enough with the set from drafting Bestaire that you know what all the cards do, you can look at some of the draft videos on channelfireball.com to help your understanding of how to draft a good deck.

Should I pay attention to the draft simulator's rating system?

Is there any way to learn to do it outside of paying and just doing it at a draft tourney?

Ah. I forgot you weren't a local/someone who stays over the summer. Do you know any good places to do it at? Who are the other Purdue smashers who play? I wouldn't necessarily go do drafting with random people without a friendly face in the mix. I know a place in Lafayette where they at least used to sell magic cards and do tourneys, they might still do that. I think it's called castle comics or something like that.

You do drafting over the summer?