I feel like the first half is a bit overstated. Taking the safeties out of the box is a major impact on the run game and giving Allen a threat at the level he likes to pass is great. There’s a reason a good WR gets so much more than even an elite TE.
also, I remember thinking that a TE would help Taylor throw to the middle of the field. In hindsight spending money to play to your qbs strengths seems most appealing.