I think you're correct. The Phins have Waddle (who is going to require a huge contract), and they just gave a huge contract to Hill. They also brought in Cedric Wilson from the Cowboys. But it is interesting that they've let go a lot of the veterans they had in their Receiving Corps in Allen Hurns, Will Fuller, Parker, Albert Wilson and Mack Hollins.
They have replaced like 75% of their offensive weapons this off-season. And, on paper anyways, they're pretty scary when you consider they added Mostert, Edmonds, Wilson and Hill to Waddle, Gisecki and Gaskin.
If the Dolphins decide to go with Bridgewater over Tua, they might be scary..