Bridgewater is one of the few recent QBs I've seen enter the draft who understand what the pocket as, and what function it serves. That's huge. All of the arm, speed, or playbook knowledge you have means nothing if you don't know how to work the pocket. And Bridgewater can (at least, he did vs. his schedule). He shows an outstanding feel for what's around him, and he moves within the pocket. That is, he keeps his eyes downfield and keeps looking for targets while he's moving. He doesn't need to abandon his receivers to take off running. Almost all young QBs look downfield, run out of the pocket to avoid the rush, then, if there's time, look downfield again. Bridgewater does it all in one motion. This is just an invaluable trait for a QB to have, especially one who hasn't played yet. It's usually an instinct thing as opposed to something that can be learned on the fly, so on that front, he's miles ahead of the learning curve.
That said, his upside is not mind-boggling. He's small and his arm is iffy, and it's not like he's got memorable college performances to lean on. So, while I think he's as pro-ready as they come, he could also top out in the Jason Campbell class. He won't be a dumbass, throwing gobs of INTs. But he may not be the lead-your-team-all-the-way type. So I get why he'd fall in the draft.