I have owned Meachem in dynasty since drafting him as a rookie, and the frustrating thing is that when he plays, he flashes enough talent that you can't cut him. But his opportunities are so limited that you can't count on him. To some extent, that is true of all the NO receivers except for Colston, so I don't think you can draw any negative conclusions from it.
Whenever he plays, he makes big plays. I haven't seen him drop easy balls. So, it is confusing as a fan. Unless Moore and Henderson are clearly out, however, you can't count on him.