...read receiver progressions beyond WR1 and occasionally WR2, I'd actually be OK with his being the QB.
As it stands (and as his limits are painfully evident), he's not going to reach that level. You're entirely right, that if we needed to grab 20 yards at a time, we're in a no-win situation.
He's not seeing WR's break open, and even when he does, it's more often than not, that the pass won't be caught by the receiver because it's under/over/badly thrown. The long pass to Beaux Collins was more of an abnormality.
If he can prove me dead wrong, I'll be happy to eat roasted crow.