Honestly I think the process of the offseason was pretty decent. The re-signed the guys they should have, let guys who weren't value walk, they went after top tier talent and when they missed the filled out a bunch of spots with mid-level vets. The problems were:They could and should have spent more in free agency but that's only part of the story. Having 35m in cap space isn't unprecedented or that far off the league average. Its when you combine that kind of cap usage with (a) also having above average dead cap and (b) also being above average in terms of players on PUP/IR/exempt list that it becomes crippling. The Pats currently have 142m in players on the active roster, which is dead last in a league that averages about 180m. The teams they played the last two weeks are both around 192m.
None of this is to excuse Wolf. That the Pats had above average dead money should have created incentives to spend toward the cap, not to save. And while he couldn't have predicted the injuries/suspensions, the Pats are above average in that regard but not near the top.
Overall even if you're spending and drafting wisely (which we're not), its hard to compete with 142m in players on your roster against teams with 192m in players on theirs.
1. The mid-level at a few key positons was worse than usual
2. They missed on a few of the most important (Okorafor, Takitaki)
I think there is good reason to think the first FA period was a bust, but it wasn't because they didn't sign enough guys, it's because the guys they signed got hurt, disappointed or both.
Next year looks like it's going to be a deeper/better class at our key positions, and we'll have a very good pick without needing a QB, which should give them real options in the draft. Next offseason to me is the big one where you can start to really judge Wolf.