The notion that Swihart wasn't living up to his billing as a top prospect doesn't hold water. This is a list of the top catching prospects right now. All these guys are top 100 type guys.
Swihart
21 - A+ - .794 OPS - 121 wRC+
22 - AA - .840 OPS - 131 wRC+
23 - MLB - .711 OPS - 93 wRC+
Francisco Mejia
21 - AA - .836 OPS - 127 wRC+
22 - AAA - 2018
Will Smith
21 - A+ - .650 OPS
22 - A+ - .803 OPS
23 - AA - 2018
Danny Jansen
21 - A+ - .531 OPS - 78 wRC+
22 - AA - .797 OPS - 121 wRC+
- AAA - .975 OPS - 172 wRC+ (78 PA)
23 - AAA - 2018
Sean Murphy
21 - A- - .647 OPS - 99 wRC+
22 - AA - .597 OPS - 69 wRC+
23 - AA - 2018
Carson Kelly
21 - AAA - .733 OPS - 98 wRC+
22 - AAA - .834 OPS - 120 wRC+
- MLB - .457 OPS - 25 wRC+ (75 PA)
23 - AAA - 2018
Keibert Ruiz
19 in AA to start the year
Jake Rogers
21 - A - .624 OPS - 89 wRC+
22 - A+ - .814 OPS - 127 wRC+
23 - AA - 2018
Chance Sisco
21 - AA - .828 OPS - 135 wRC+
22 - AAA - .735 OPS - 107 wRC+
23 - MLB - 2018
Swihart was on a curve that put him ahead of all these guys except Mejia (who's yet to be the primary catcher for a full season), Ruiz, and maybe Kelly. At age 23 he performed at a level in MLB that any of the current top catching prospects would do well to reach. Through 2015, he was a full-time catcher who was improving defensively and was looking like he was going to be an average defensive C, at worst. His overall milb career is not mediocre and his MLB career is not poor for a young catcher. They are actually pretty remarkable. Top 20ish prospect remarkable through 2015. His 2016 and 2017 were poor because they switched his position, he got hurt, and his performance suffered. "Getting hurt" certainly would explain why his overall numbers may not look great when that time period makes up almost a third of his professional career. It's not the profile of an overrated or busted prospect. So, again, in response to your original question - I'm waiting for him to return to the player that had him as the top catching prospect in the game prior to his injury (2 years ago, not 4).
As bosox79 noted, his value is as a catcher. If he can't be at least the backup catcher, then he becomes a utility player with a potentially above average bat. His upside is a player similar to Nunez.
There is no doubt that Swihart was a prospect worth paying attention to. He was very toolsy, and he had a solid but not spectacular hitting line up to single A....and then had a legit exciting power surge in AA that looked very promising. I don't think that itself was enough for him to be the stud prospect that many said he was (and most of that seemed to be based one somewhat crazy projections of him being an elite defensive C), but still, he was a legit good prospect, at least.
But that small sample power surge is ancient history at this point. And without that power you have a very questionable bat that is unlikely to be even average in MLB, which means all of his value is predicated on defense - but he doesn't seem able to play a premium defensive position.
And for the record you skipped a level or two entirely there in your stats comp.
If we look pre-injuries, this is what Swihart looked like as a prospect:
A (20): 378pa, 6.9bb%, 18.0k%, .300babip, .262avg, .134iso, 91wrc+
A+ (21): 422pa, 9.7bb%, 14.9k%, .350babip, .298avg, .130iso, 121wrc+
AA (22): 380pa, 7.6bb%, 17.1k%, .337babip, .300avg, .187iso, 131wrc+
AAA (22-23): 151pa, 5.3bb%, 19.2k%, .354babip, .288avg, .076iso, 95wrc+
MLB (23): 309pa, 5.8b%, 24.9k%, .359babip, .274avg, .118iso, 93wrc+
What do we have there exactly?
- a guy who only once was able to be above average in drawing walks, way back in single A, and whose walks fell off precipitously in AAA nad MLB.
- a guy who seems to have needed unsustainably high babips in the .350 range in order to post an above average batting average
- a guy who only once showed any type of power at all, in AA.
- a guy who struck out too much for that little power.
IMO it was never easy to project those numbers there even to being an average MLB hitter, and that was before any of his injury problems. Now that could have worked into a solid MLB career if he was a legit plus defensive catcher, but I think we can all accept now that that's never going to happen.
And if you think his injury problems have set him back further than from what he already was....then I just don't see what we're waiting on here, really.
The guy is 26. These should be his peak years, especially defensively.