I don't think you realize just how fortunate we are to have Papelbon. There's a lot of room for Bard to be very, very, very talented, and a brilliantly effective MLB closer, without sniffing Papelbon's level of talent or performance -- he's that rare a find.
How many relievers in this league do you think would talk to the media about their disappointing season if they'd put up an ERA in the 2.8-3.1 range? That's optimistic for Bard, although it's fair to expect him to get there, and it's about the level you need to operate in to really be a decent closer. For Papelbon, though, if he put up those numbers we'd be panicking about his underperformance.