No, I don't think it was a smokescreen. I think the current roster can find some success, but things need to go right for it to happen, and thus far it hasn't. Over the course of a season, the roster they planned to take the field with, when healthy, is a good defensive team, despite the deficiencies at catcher. The pitchers they have slotted for the starting rotation are good pitchers. It can work, and it still may. I think they went into the season legitimately thinking the team could compete.
I also think the "bridge" comments are there because they recognize that there is less margin for pieces not working out and being covered by other parts of the plan. There's not much contingency in this roster. If the pitching or defense, or hell both which is what happened when the year started, don't play up to expectation, then the other parts of the team - the bullpen, the offense, etc. - aren't going to be able to cover for a deficiency.
As far as where the bridge leads to, I can only guess. There's a lot of time between now and then and a lot of baseball to be played to firm up what decisions could/should be made. They'll know more about what they have in the likes of Reddick, Kalish, Anderson, Wagner, Exposito, Middlebrooks, etc. to fill some of the spots that will open. Fielder and Gonzalez are free agents in the 2011 offseason. Werth is an interesting option in the 2010 offseason.
The signing of Lackey, actually makes some sense, albeit with some risk. When they signed him and extended Beckett, they've, barring injury, kind of nailed down their rotation through 2012 (Dice is the first to have an expired contract/control after 2012 - Lester, Lackey, Beckett, and Buchholz are all under contract/control through 2014 if you include options). They don't need to focus there. That doesn't mean that everything will work out perfectly and they won't have to address something, but it won't be an area of focus. They can put their focus on improving other parts of the club.