Pitts, I love because he's just a stud, but a top 5 pick at a low value position who doesn't block is tough. TJ Hockenson went #8 overall and is 3rd in the NFL for TE catches and yardage behind Kelce and Waller. He'll probably finish with 60 catches for 700 yards (I only know this because he's on my fantasy team). That's basically a normal Cole Beasley season.
Hock's a good blocker and about as good of a receiver as you can ask for, but he's just not a difference making player. He'll probably play in the league for 10 years if his body holds up, but the WAR differential between him and say Dalton Schultz isn't that great.
Pitts won't block, so you're basically banking on him to be a 1,000 yard slot receiver, and I don't see that as being worth a top 10 pick. Slot receivers are fungible (most WRs will look great if you give them a two-way go and an untouched release), and even if you try to teach Pitts to block, Y tight ends aren't that valuable unless you run a Shanahan/Kubiak type offense.
Chase is a rarer breed at a more valuable position. It's hard to find downfield soul reavers like him, because you need the high-octane explosiveness to just straight-up beat CBs in man, but also have the coordination to catch circus balls, and the nuance to separate late in routes and exploit gaps in deep zone coverage. CeeDee and Gallup have the latter two down pat, and both make crazy plays downfield despite having average height/weight/speed. Chase has those guys' ball skills with more burst. If you think CeeDee is the best rookie receiver in this year's class, Chase is better than him.
So just from a BPA perspective, I think Chase will hit and become an impact player, but that gives us all-world stud Amari Cooper and then 3 other guys with nearly identical skill sets. Of course Gallup is a goner if that's the case, but would you be willing to spend a top 5 pick to save a ~$12M/yr contract? Heck, Chase would probably be making 7 or 8 mil.
