I see it as meaning a guy who needs considerably more development to be what you hope he can be. QB Lance as an example. He is so undeveloped that all he has is upside because you sure wouldn't take him for what he can do for you now, or even this year.
And I find such an approach fine for 3rd day picks. But not for 1st rounders. And especially not for high first rounders who ought to be among the more highly developed already.
I know what you are saying and for the most part agree. But who would intentionally ever draft a maxed out player? But NFL ready? Or a guy who just needs to learn the ropes or adapt to the NFL speed? That's different.