Our read
Humphrey's 2025 was seven games, 4.9 points a game, a best week of 13.2 and never a single week over 15. That is the player drafters would be taking, and they are barely taking him at all, around pick 389. Our number has him at 57 points, WR113, so even our projection says he is a fifth receiver on your roster, not a fourth.
The role problem is real. He is listed sixth among Denver receivers behind Waddle, Sutton, Franklin and Mims, and the crowded target room alone costs him 0.9 points a game in our model. He did show a little red-zone usage last season, 16% of his own touches, but on a grand total of 4 red-zone touches. That is not a role, that is a scrap. The snap share fell from 63% early in the year to 44% late, so even the playing time was slipping while Payton kept calling plays. Vegas has Denver at 9.5 wins, a winning team that still has not found a job for him. He is 28 and undrafted out of the 2019 class, an eighth-year pro whose target share last year was under 10%.
Here is the thing about the games number: 12 expected, and none of the missed weeks in his record were injuries. He has been a healthy scratch, a coach's decision, three years running. That means the low end here is a zero you chose, not one the trainer handed you. I would let him go entirely. If you want a Denver receiver late, take a shot on Mims instead and spend the actual last pick on a defense with a week 17 game you like.