Well, not exactly. At the beginning of the season, this team had 3 elite bullpen pitchers, Papelbon, Bard-- and before you start protesting-- Manny Delcarmen was absolutely dominant April and May of this year.
He's a second round pick that the organization has been in love with for years, but in June, he completely fell off the side of a cliff, and I think the team assumed it was injury related, so they figured they'd just wait until he came back from the DL, but he never really recovered.
Ramon Ramirez had a ton of potential too-- he has a 0.73 ERA in 24 innings with SF since leaving Boston, so its not like they overestimated his abilities, they just didnt realize how Boston would affect him.
It wasn't until July that the team really realized that it was in such bad shape, and at that point, it was too late to find an elite bullpen arm cheap, so they did the next best thing by converting their two best AAA starters to relievers. Realize that the bullpen that started this year was mostly the same that started last year, with Bard replacing Saito. It is not the FO's fault that Papelbon, MDC, RR, and Okajima all decided to s*** the bed the same year. I honestly think its gotta be the training/pitching coaches because this year has been a worst case scenario in so many ways for the pitching, despite being healthy.