Well I suppose it depends on how long-term the minor non-aligned powers are willing to think when they negotiate with either the Federation or the Pact.
If they were thinking short-term gains in terms of technology and resources, then the Pact is better positioned to provide just this. The Federation has too many troubles of its own with refugees and resources to bother with competing with the Pact to provide minor worlds with something in exchange for allegiance or political friendship.
If the minor powers are thinking long-term however, they might think it not worth it to align themselves with the Pact immediately. After all, before the Borg invasion, given a choice between aligning with the Federation or aligning with some members of the Pact, they would
have chosen the Federation simply because the Federation does not occupy, subjugate or conquer and Federation worlds are
for the most part independent and prosperous. Of course, over the long-term the Pact itself might
distinguish itself as a viable alternative to the Federation and these minor powers might
consider starting a "bidding war" to gain as much as possible.
Either way, the Federation has it tough.