Define Blue Chip?
If you mean a Blue Chip center prospect you can fully expect to turn into a #1 center like Stamkos, Tavares, Matthews, Eichel? And to a lesser extent MacKinnon, and Seguin? No. I'd say Barkov was also clearly ahead. Followed, by both Strome's, Bennett, Reinhert, RNH, Monahan, E. Lindholm, Draisaitl, Hischier, Ryjo, and Patrick etc.
Now, he could easily end up better than guys viewed ahead of him in time. But, I don't think to expect a number 1 center is realistic. He's closer in value at the draft to guys like Zacha, Barzal, William Nylander, Galchenyuk, Zibanejad, Couturier, etc. Now, a bunch of those guys have or look likely to end up better than the guys listed in the tier above.
Him going 3rd or even being viewed as a consensus top 5 guy isn't unreasonable in this draft. I'd think the main reason to take him at 3 is positional value and the fact he is no less risk at being a #1 C than Dobson, Hughes, Bouchard and Boqvist are of being #1D. So, the real question is, how high do you value a first line winger, which is reasonable to expect with Tkachuk, Zadina and Wahlstrom vs a guy who could develop into a winger or doesn't have a great chance of being a top 20 center in the league (which is what you need to be, to be a legitimate #1 center you are comfortable building around, and not permanently looking for an upgrade).