For those saying that he should have waited another year, there is no guarantee things would have gone better for him as a sophomore. And they absolutely need to for any player staying more than one college season in order for teams to still be interested in the potential.
It should also be noted that two-way players now get paid a lot more than they used to - half the amount of a rookie contract (around $500K). As ozgod pointed out, this was a huge deal for Davison and his family. And $500K is a legitimate amount of money to accept compared to the uncertainty of going back to college and hoping he improves enough to go in the 1st round.
Looking forward to seeing his development - there is certainly a lot of potential there and he seemingly knows what a great opportunity this is.