Not that I was expecting Lee to be a huge contributor, but this definitely signals we're looking to add another WR, be it a vet or through the draft (or both). Right now after Agholor, Meyers, and Bourne, we have the following competing for probably two more spots:
Edelman (health concerns)
Harry (talent/fit concerns and rumors have him actively being shopped anyway)
Gunner (okay depth but primarily a ST guy)
Zuber
Wilkerson
If everything goes perfectly with those players, we're set. But we all know that's not going to be the case. Personally, I would resign Byrd and draft a kid for competition and depth. Otherwise, if the plan is to use significant draft assets to trade for (or up for) a QB, then bring in two more low risk vets to make sure you get four guys who can catch the ball.