This is super late, but Keith Law of ESPN released his organizational farm system rankings yesterday. He had the Yankees 20th out of 30 teams, which may seem a bit low to us Yankee fans. The full article is Inisder-only, but this is what Law had to say about the NYY farm: "The Yankees' system still has more talent than production, as several key prospects continued to have trouble staying on the field, but a very strong 2013 draft class and a blowout year on the international front have the system trending up again."
If you recall, 20th is exactly where Law had the Yankees last year. I'd argue that a system that got a tremendous full season from Aaron Judge, monster years from guys like Luis Severino, Greg Bird, and Rob Refsnyder, a bounce back year from Tyler Austin, American pro debuts from high-upside young players like Mateo, Molina, and Palma, and has more pitching depth than people might give it credit for is already trending up and deserving of a higher rank than 20th. That just goes to show how subjective these rankings are and how little they ultimately mean.
For what it's worth, Law had the Cubs at #1, the Mets at 4, and the Red Sox at 5.
Reminder- Check out the IIATMS Top 30 if you haven't already. Or check it out again if you have.