Good post. I agree with your assessments in the first paragraph.
The thing is...we already know exactly what Escobar is. He's got absolutely super hands and a large wingspan. Seems reliable. His skill set is useful in the red zone but of very little value in other respects.
He's SLOW with ZERO Run-After-Catch in his game. His lack of speed is like a limiter on a U-haul rental truck--they used to have those where you'd max out at 55MPH! His lack of athleticism makes him a terrible special teams player. He has a hard ceiling as a player.
Escobar currently sits third on the depth chart, with a JAG, Swaim, in front of him. Swaim was picked at the bottom of the 7th round!
Escobar can be signed for little--as you accurately note--because he has little value. There just isn't much to explore here or hope for. Very limited player.