The season is young, we were only supposed to win 40 games IF everything goes our way, injury wise and player wise. Instead, bargnani, fields, ross, davis and (imo) JV are underperforming compared to expectations, we've lost our best player for half the games and we've been very unlucky against Indiana and Utah.
Still, we've been in all but one game, despite playing 7 teams forecasted to make the playoff. Demar is showing signs of becoming a very good player, Lowry looks like a keeper and JV, while very raw, is clearly not going to be a bust. Ross only had 7 games to prove he belongs, so you can't draw any conclusions.
As for Bargnani, I'm in a minority (understatement of the year), but I don't think he was that bad. He started really slow, conditioning may have been the real culprit, but he's moving much better lately and he's starting to pick up his scoring. I think Casey will have to make some adjustments at both ends, but not all hope is lost for him.
Making the playoffs is probably a lost cause now, but that wasn't the main goal. Hopefully, by February we can make up enough ground to be in that 3-5 teams group chasing the final spot, even if last among them, so we have some hope.
But the biggest thing that should keep your spirit up is that, if things don't improve, and we do end up sucking badly, by next summer we'll have a team without BC, Bargnani, Jose, with a very promising core of lowry/demar/JV and potentially a top 3 pick (if we suck really badly ...) and that's not such a bad thing to build upon, especially if we can get a decent pick out of bargnani.
The only scenario that would really be dissapointing is to lose the lottery pick and not converting Bargnani
into a good asset.