There aren't too many QB's who can make throws like this...
Elway got good value at that pick, he's raw, but he has many of the traits that make for a good franchise QB. I would have taken Haskins before him, but given they got Fant and Risner, it panned out way better than expected. If they can find a way to remove the questionable decision making in 10% of his game, it's a steal. There are bigger question marks over Murray and Jones IMO.
Just about every starter (and a fair few guys who aren't) in the NFL makes those throws... they just pair it with better average play away from the one or two times a game those throws get made.
Lock has a tendency to put himself off balance needlessly. It makes some of his plays look fantastic... but in reality, they should've been simple. And while he is good off balance, nobody is good enough off balance to be better than when they're clean and upright in the pocket.
Consistency, footwork and pocket presence are going to be his issues. I hope he succeeds, because he's fun to watch (said the same thing about Josh Allen last year, though his issues were/are different... super high end plays paired with stupidly bad accuracy and touch).
I agree with him being good value in the 2nd though. He has potential to at least be a guy you can win with, and salary controlled for his rookie contract so you can keep the pieces around him to make a play if he turns out to be competent.
There definitely aren't more question marks over Murray (yes with Jones, one could make a stronger argument for him being the 6th best QB in the class than the 6th best player).. get over the size bias, it just doesn't matter. He played behind an NFL-size OL at Oklahoma, he could work the field then and he'll do it now (also, at both college and NFL level there is no correlation between size of the QB and batted passes). He's also Wilson-ish in that he just doesn't take bad hits on the run.. might be the baseball in him (yet the worst injuries over the last few years to QBs? Andrew Luck and Cam Newton - I'd argue play style has more to do with injuries at that position than size). And... well, he's just better at the things that matter most in the passing game (consistency being a big one...) when translating to the NFL. He's not quite Mayfield, but he's a hell of a passer - and has added big play run ability.