I think Chan planned to stick with Fitz regardless, Fitz and Chan are on the same page and it showed against KC. Chan was going to start Fitz this year, period.
They could have taken Newton as a future franchise qb, but frankly the defensive need was much greater. Why draft a qb you don't plan to play right away, when your D-line and O-line need help right now? So no, I don't think Newton would be a Bill.