There's a bad way and a good way to look at this stragegy:
The good way is that you figure you're locking up most of the touchdowns scored through the air of a certain team. The bad way is that rarely do two receivers on the same team have a great game.
I'm going to attempt to argue the bad way to look at this strategy.
Everyone knows that WRs in fantasy football are the hardest predict. Say you have a number 1 receiver from one team, and a number 2 receiver from another. With this strategy you have a better chance for both receivers to have great games. However, with this strategy, you have a better chance for both receivers to have poor games. So this strategy could be viewed as a more high risk/reward than using two receivers on the same team.
In the end I don't really think it makes a difference in what you choose to do. If I already had a number one receiver on a team, and then later in the draft the number two receiver on the same team was the best player available for me, I would draft him no question.

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