I don't disagree with your thoughts for Luke at QB. However, what I've surrendered my mind to is that AM is Frost's QB. He seems to be "all in" and will burn down the whole program before considering someone other than AM. I'm having some fun in my comment but truly, Frost has convinced me that NO ONE will take his place.
For me, I'd rather see Luke at WR and use him than see him go into the portal and find a spot he will be played. Hopefully, both AM and Luke seal the deal in their roles and both will be very happy. However, viewing the situation with "Fantasy Football" eyes, I would currently, under these WR circumstances, look to play look at WR if he ends up being an impact player worthy of the start.