Fantasy Upside
What more is there really to say about Michael Thomas? He was the No. 1 fantasy receiver by a wide margin over Chris Godwin in 2019, setting an NFL record with 149 receptions. He's arguably the best receiver in football (the players voted him as the best receiver and top-five overall on their top 100 list).
Fantasy Downside
The Saints actually have a legitimate second wide receiver opposite Thomas in Emmanuel Sanders. But that only means Thomas just won't hit 150 or probably even 140 catches, As our John Paulsen wrote in his draft notes: "Since 2000, there have been 18 receivers who have seen at least 180 targets and on average, the other 17 receivers saw their targets per game drop by an average of 18% the following year. That would put Thomas’s catches back in the 120-125 range if his catch rate holds. He’s still a solid pick in the first round, but owners shouldn’t expect another 149-catch season."
2020 Bottom Line
Thomas is a first-round pick. Period. Some may have him as the first receiver in fantasy, others may have guys such as Julio Jones or Davante Adams. Regardless, Thomas is going to be among the top of the list again, but he likely is going to be closer to the pack than he was in 2019.