Smith is a early draft pick that we already know can contribute. Owusu was undrafted making him a project. Marshall should start over him. Decker should. Kerley has the slight edge. And in the Miami game, he caught one single pass and ran the ball once. Hardly a mind-blower.
Owusu wasn't undrafted because he was a 'project'. He was 2nd-3rd round WR who went undrafted because of his concussion history. There were many teams that would love to have drafted him early but wouldn't touch him. He was similar to Devon Smith coming out but with a jello brain.
it's kind of a moot point to argue Owusu's potential, as it may be over already. that was the whole point. he wasn't drafted despite 4.3 speed because of concussions (no other reason), and it appears that is still a huge concern. in the Miami game, he had an impressive 87 yd kickoff return, a 36yd catch in double coverage (video below), and a 23yd end around for a TD. that was all with limited snaps. He looked really good. His arrow was pointed straight up, with his main competition being his health. http://www.nfl.com/videos/nfl-game-highlights/0ap3000000449831/Chris-Owusu-makes-36-yard-leaping-grab and you think a raw rookie like Smith, who has now missed most of OTA's, and will miss all of camp, will make an immediate impact? please, it doesn't work that way regardless of where you were drafted. they'll either roll with Kerley and give up the deep threat, or go with a guy like Graham to start the year now. it's a downgrade.