Correct, because the rest of the pieces weren't in place. Dan Marino took the 1984 Dolphins to the Super Bowl and lost, because the team consisted of Dan Marino and... well, no one else who mattered enough to change the outcome. Elway won two Super Bowls when Denver finally installed a competent running game.
Denver's current situation is that they have all of the pieces in place except for a gaping hole at the QB position. Jay Cutler was drafted to fill that hole, and now it seems they're going to stick that piece in.
Denver is in fifth place in their conference. One spot behind all the division leaders. In my opinion, that ain't too shabby at all.