Let's look closer at the stats used to prove that he is a bust.
Robert Meachem: 101 Receptions-1,649 Yards-17 Touchdowns 1st Rd (27th Overall)
Sydney Rice: 146 Receptions-2,129 Yards-18 Touchdowns 2nd Rd (44th Overall)
Steve Smith: 220 Receptions-2,386 Yards-11 Touchdowns 2nd Rd (51st Overall)
Jacoby Jones: 96 Receptions-1,229 Yards-9 Touchdowns 3rd Rd (73rd Overall)
Mike Simms Walker: 122 Receptions-1,648 Yards-14 Touchdowns 3rd Rd (79th Overall)
Steve Breaston: 187 Receptions-2,528 Yards-7 Touchdowns 5th Rd (142nd Overall)
Chansi Stuckey: 102 Receptions-1,023 Yards-5 Touchdowns 7th Rd (235th Overall)
First off of all those players only Rice has scored more touchdowns and I believe the point was to draft Meachem as a deep threat to stretch the field.
Let's look at yards per catch:
No within a yard of him. WOW!!! How unproductive of him! Let's not forget the early injuries that slowed his progress.
By the way do you know of those recievers, who has the most YAC. Yeap Meachem.
My contention is that he has done exactly what he was drafted to do. Stretch the field. Additionally, he is in an offense that spreads the ball around. Whereas the players mentioned are on teams that have few other options.