There is nothing wrong with stacking quality football players at one position. There are always injuries and the competition will be good for everyone.
Let's look at the WRs from our last few recruiting classes.
2011
Bundrage 6'2
JQ Daniels 6'4 (possibly TE prospect but currently at WR)
Tad Ecby 6'1
Aaron Horne 5'9 (Jr)
Teddy Lampkin 5'7
2010
Albert Gary 5'9
Jarvis West 5'7
Chris Young 5'11 (Jr)
2009
Darius Reynolds 6'2 (Jr)
Josh Lenz 6'
Keith Blanton
Donnie Jennert
2008
Darius Darks
Jason Carlson
Sedrick Johnson
Lonzie Range
We have no RsSRs from the 2008 class and only Lenz will be back from the 2009 class (if rumors about Jennert are true).
Chris Young is done this year and never lived up to his 4star status.
Horne, Gary and West were solid contributors this year.
So that is
4, yes 4 WRs from classes prior to 2011. Lenz and Horne will both be Seniors, Gary a RS Jr, and Jarvis a RS So. Those guys and the freshmen who redshirted this year are all we have with "experience" at WR. For a team that routinely puts 4 WRs on the field, that is thin. Also, only Lenz is the tallest of the experienced WRs at 6'.
The staff is playing a numbers game. They have to make up for some pretty lean classes at WR so they are taking as many as they can. Then, if one or two don't pan out, they wont be up a creek.
Bundrage and JQ Daniels were rumored to be vying for PT at the beggining of the season, likely because they were physically the most ready to play. There is no guarantee that all 4 of the 2011 freshmen will pan out so they have to think about the future with the 2012 commits.
It also looks like this WR class has a focus more on size with Quan West at 6'4, Daley at 6'3, Patrick Harris at 6'1, and possibly Chance Allen at 6'3. We could then have a good mix of speedy slot guys at 5'9 and below and some guys with more size at 6' plus.
One good thing about Daley is that if he doesn't crack the WR ranks, he can be moved to defense.
When looking at the WR in this class you have to consider the last 4 classes as well. Next season up to 9 (with Allen pending) of our WRs will be RSFr and Fr. We need lots of competition between those guys so that the cream will rise to the top.
EDIT: I just noticed that Chris Young was a Jr this year (forgot about the redshirt) so he will be back next year but probably wont contribute much more than this year (6 for 68 and 1TD).