It is a little disturbing that they weren't able to close out the series, of course, but it's not as if the Rockets are the Raptors or anything.
Taking the good with the bad, though, they were one epic Grizzlies collapse away from losing in the first round in 2012, so they've been on both sides of that and still haven't made it to the conference finals. I think it would be silly to treat the Clips as a title contender right now.