I think Davis has the outside spot across from Diggs locked down unless one and only one thing happens. They draft a stud high.
I think you're right. If they draft a stud high, all bets are off, but it doesn't seem like they will. I'm not sure. People have dubbed the race for wide receivers an "arms race" of sort, so one never knows, and I don't think Buffalo will tip their hand like Urban Meyer did last year in Jacksonville when GMs of another late-round pick had the jitters that an RB would go in the first, which did happen because, well, Urban Meyer.
But you're right about Crowder likely operating from the slot, leaving Davis and Diggs wide. I'm not sure if Diggs plays X or Z, though I'm guessing X. If that's the case, Davis won't face press coverage and can use his above-average speed (for his height) to do that which we hope he'll do.
Crowder averages ninety targets a year for his career, or about six per game. With the Jets, he averaged about seven a game. Beasley averaged about 106 targets per year the three years he was in Buffalo, at a clip of about 6.5 per game, so you're not likely going to see too much of a drop-off in terms of slot targets. Those targets that we thought that Beasley was vacating (yet targets are earned) will likely be absorbed by Crowder.
The question or narrative surrounding Crowder will be can he stay healthy, but that question is overdone. He's never been a picture of durability, but he does average about the league average for receivers. He had seasons of 16, 12, and then 12 for the Jets. So he's missed nine games over three years, which isn't actually bad. At all.
And he's been good, playing with some bad or rookie QBs in his time. His catch rate isn't extraordinary, but one imagines that will tighten up with Josh Allen like it did with Zach Wilson (it did, believe it or not. Massive improvement in catch rate over Darnold) and that Crowder will be an effective weapon. But Davis's real competition will come from Diggs on the outside.
That's how I see it.