And if we're going to talk current GM regime, then yes.. But if you want to include the post-Jordan era.. then TMac and Eddie Jones were failures, though you really didn't miss much concerning Eddie Jones.
Duncan has still never left SA and Grant Hill was never the same, so no real big miss there either if we're going to include hindsight into this.
LeBron-Wade-Bosh knew they were going to play together, I don't think they knew where until probably that summer. I always got the feeling Wade tipped Riley off as to what they were up to, thus giving Riley the ability to plan and prepare for 2010 free agency.
Joe Johnson was definitely ours until Atlanta offered the absolute max and of the max. And as much as we trash Boozer, he was considered the 6th best free agent that year behind The big 3, Johnson,and Amare.. and he was way cheaper than Amare.
So, the majority of it is a turn of a bunch of bad luck, unforeseen circumstances, or simply not being prepared for the moment (Like Melo last year in not shedding enough salary, though they still may not have swayed him).