He might be drafted in the first round, but I think that'll be a stretch pick and he'll be a bust. He has a college football skill set. I don't see the mental tools or the accuracy to succeed at the NFL level.
Now, as far as the mental side of things, he hasn't really had a chance to display whether or not he has those, so it doesn't mean he lacks them, only that it'll take time for him to learn them. He hasn't shown a lot of decisiveness against elite defenses... compared to college football, every NFL defense is elite.
The accuracy thing... maybe it's a mechanical issue that can be ironed out. Some QBs can develop accuracy with good coaching. Most can't. The NFL requires far better accuracy than the NCAA does. Windows are smaller, big plays tend to come after the catch, which doesn't happen if the receiver has to slow down or adjust to the pass.