I think the philosophy is good but the trading is bad. Everything else, for the most part, has been fine. Drafting, int'l signings, roster management. The free agents are hit or miss (Morales being the main miss) but you'll have bad FA signings here and there. Smoak extension was good foresight, Grichuk extension remains to be seen.
I'll give them a slight pass for the bad timing in trades since it could have been an ownership call, but the trade returns definitely pushed the potential timeline back a bit. Maybe not that far back, but still a setback. If they started selling at the 2017 deadline or even pre-2018 off season, that small window of time could have changed the level of talent significantly (ex. Flaherty instead of Merryweather, etc).