He's either full of sh!t or overrated the talent.
I don't think it's either.
The team started very slowly. Some players hit their sophomore slump. For others, it just wasn't clicking. Seems like coaching might have had a lot to do with it. Doesn't mean the talent wasn't there.
Bowler in all likelihood expected the players to continue to build on their season last year. If that had happened, it's quite possible this team is competitive this season (battling for 4/5 seed?). I'm not really sure what his larger plan was to recoup picks after the early DeAngelis & Sobolev trades, but I think that's kind of where he thought the team would be.
When it was clear that the slow start was going to prevent that from happening, it think credit needs to be given to Bowler for shifting gears and going into full sell mode. A lot of GMs would stick to their original plan through hell or high water, but he quickly shifted into plan B. He has done an admirable job recouping picks this season and gotten a lot of value from players who were going to be graduating soon anyway.
Yes, that makes this a down year. Whoop-de-doo. Fans incessantly whining about it must not understand junior hockey. Everybody goes through it (except London). At least you have restocked the cupboard and gotten good value for the players you traded away. Not accomplishing that this year, once the season went off the tracks at the beginning, would have been a fireable offense. Be thankful that Bowler didn't go that route, or else you would have a lot more than 1 down season to complain about.
Hiring the wrong head coach is not automatically a fireable offense, as long as you are able to move on from them and learn from the experience. If you can't bring yourself to let a head coach go who isn't getting the job done, or if you continue hiring the wrong head coaches, those can be reasons for dismissal. Bowler's next HC hire will be crucial.
All just my opinion. But sometimes to read this thread, all I hear is a whole bunch of chicken littles. It's really not that bad guys, it's just the cycle of junior hockey.