I thought they would better than an around .500 team this year, but this one does seem a bit odd given the injury to Parker (and to a lesser extent Teletovic and Dellavedova), the trade dumping Monroe and adding Bledsoe and the fact that John Henson and Tony Snell really are the best options at 2 starting spots.
They aren't a very well constructed team. They need to surround Giannis with shooters, and aside from Snell their "shooters" aren't shooting the ball well at all (which is why they actually miss Teletovic) and that problem won't be fixed when Parker returns. Middleton and Bledsoe are good players, but they are best as a #3/4 type options. Parker has the potential to be a #2 option and fix that problem, but I don't see how they can realistically play Parker, Giannis, and a center (especially Maker or Henson) for any real length of time.
Kidd may have needed to go, but they need a GM that can properly build that team around Giannis, and thus far they haven't done that.