I'm marginally confused about how Draw Order is supposed to work.

I was thinking that whatever is listed at the top of the list would get drawn first, but it seems like it's the other way around?

Can someone explain the logic there? Is it "Whatever is on top gets drawn on top?"

The top part are "slots" under bones, and those are sorted alphabetically. Further down there is a folder type blue icon for actual draw order, and yeah- what is on top draws on top. So you just drag it higher in the list to change the render order.