I think Geno Smith and Tyler Wilson might measure out to be similar to Ryan Tannehill. Yeah, Tannehill only had one very good college season, but so did Cam Newton. Only having one great year doesn't eliminate someone from being a franchise QB at the next level.
Geno will probably struggle as a rookie. Maybe even the first two seasons. He really struggled against good defenses this year for the most part. But nothing to really lose for KC. They have to go after a franchise QB and the draft is still a better shot at that, then Alex Smith and other retreads.
It's only really a matter of whether Tyler Wilson or Geno Smith is the better option.