While it is true that the pitching is simply not there, like you state, there will be 13-14 games left before the ASB after playing the Red Sox this weekend. I think most here would've taken it if the team went into the ASB at .500, so that's still possible. It is also possible that the team goes into the break a couple of games over/under .500.
They'll have a 10-game homestand right after the break where they play the Rays, Dodgers and 4 against the Astros, that could be the deciding factor as far as whether to be sellers or stand pat at the deadline, but a lot can happen before then.
I don't think it's realistic to think they'll catch the Red Sox, but the WC's are a possibility after the 11-gamer we'll see what happens.