Pants is a little harsh. Mahomes' absurd contract numbers have started to cause a problem but iirc the Chiefs have Scott Pioli in their front office - if anyone can cobble together a competitive roster on a limited budget it's him.
They've created their own problem by letting Hill walk and "replacing" him with a slot WR and a middling #3 WR. They're going to have to find a decent #1 WR - Hill is easily in the top 10 across the entire league - and the wideouts left available in FA don't really fit the bill. So they could either trade for someone approaching Hill's talent (yet somehow with lower salary demands) or trade up in the 1st round to get London or Wilson. They obviously let Hill go to free up some salary space so presumably they're going to look to the draft for the solution, by picking up two or even three guys for less overall salary than Hill was due.
They can't rely on Mahomes picking apart complicated defensive schemes or secondary looks with 7+ guys in coverage because he hasn't been able to do it so far, so they either need an elite wideout who can reliably get separation in man coverage and find seams in the zone schemes or retool the entire offense to make opponents stop dropping 7+ into coverage - IE develop some kind of run game.
If it was me I'd draft two of Chris Olave, Treylon Burks and Skyy Moore at #29 and #30, and then snag Trey McBride with #50 (I can't see him still being available at #62). Look at how vital Travis Kelce is now to the KC offense: Reid will want an insurance policy against his star TE getting hurt and there is the possibility of Kelce and McBride emulating the the double TE set as a passing threat, a la Gronk and Hernandez. As you rightly observed, that would create a massive matchup headache for most opponents and I also think it would confuse a lot of pass rush schemes.