DFWJC has posted the most logical answer to me.
I would prefer Floyd to the combination of Frederick/Williams. I think Floyd is going to be really good, think he is explosive, and think he's gonna be a star (barring significant, career-threatening injuries).
I think Frederick will be really good in the run game, and help the team run for third-and-one and goal line situations, which they haven't been able to do for years. I have real concerns about his pass protection--hopefully I'm wrong.
I also have doubts about Williams--I don't think he is quick out of his breaks, and body catches the ball too much. He may be a good receiver--I expect him to be a slight improvement over their current third receiver, but I don't see him as a star. Those are my opinions...
The posters that talk about Floyd not being worth the 5th pick, and falling/rising in the draft are really dancing around a huge indictment of the front office. If your organization spends all year rating players, and then doesn't trust their ratings--that's a real organizational problem... Which is why I come back to DFWJC's explanation as the best I've seen...