The New Orleans Saints needed a running mate opposite of Michael Thomas, and a vertical threat. They got both of those things in Ohio State wide receiver Chris Olave. They are clearly looking to compete in a weaker NFC South division, and think they can do it with this pick.
Olave has excellent technique, route running, and hands. He uses all those things to track the throws while adjusting his speed to maximize balance before snatching the ball cleanly from the air. His quick feet make for a lot of variation in his routes, making him exceptionally dangerous on curls and comebacks. His route running is smooth and filled with burst, allowing him to work multiple levels and dominate from any receiver spot.
Olave will provide a starter next to Thomas, and another weapon for Jameis Winston. They immediately have one of the more talented receiver duos in the NFC, and will look to compete right away.