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He was "competing" for the starting job in training camp, but was officially handed the role when Mark Sanchez got hurt. Personally, I think that in reality, Smith would have gotten the starting role even if Sanchez were healthy.
After two games, I believe that he certainly is an interesting talent.
He can move pretty well in the pocket, and he's been great at picking his spots in terms of scrambling for positive yardage when the coverage doesn't allow him to make a play downfield.
He also has shown pretty nice poise in the pocket. In the preseason game against the Giants, he collapsed under pressure and sometimes he panicked.
As for throwing, he needs work, but at his best, he can make very strong and accurate throws. However, that isn't the norm for him. Especially on Thursday night against the Patriots, Smith was overthrowing receivers, underthrowing receivers, and occasionally it looked like he was attempting to target the defender. He missed quite a few throws that should have been easy. He played bad.
So why do I think he's so interesting? Because, he's only a rookie. While a lot "rookie mistakes" become simply mistakes, I still think that he can improve greatly and be much more consistent. That's the key word, consistency. That has always been the biggest issue with rookies in the NFL. They show flashes of brilliance, then follow it up with an "I don't belong here" play. Geno has been doing that.
I think that he has the potential to be among to the top ten quarterbacks in the league in a few years, which will be good enough to lead a team to glory given that the surrounding parts are good.
Throughout this season, he will continue to make better decisions, and gradually, his accuracy will improve.
It will take some time, but this project is probably going to work out well for the Jets.
I think they're onto something.