I'm not too worried about the position player group. There are SO many options at 1B/DH, and Mancini/Hosmer/Mervis were SO bad, that it's pretty easy to make up a lot of what went out the door in FA. And if Bellinger comes back, which I agree looks increasingly likely, it should be a better group than last year (and they were 9th in position player WAR last year). Not as good of a group as it could have been with like Juan Soto, but it should be a good group.
Similar deal with the bullpen. Except for a stray Phil Maton mention real early in the offseason, all of the names the team has been connected to are pretty legit. We also got word that on Counsell's behest Jed is going to put more resources into the pen than he's traditionally comfortable with. I would expect two relievers of at least Michael Fulmer-eque ability, probably one guy at about that level and another guy significantly above. Something like e.g. Robert Stephenson and Matt Moore. Combine that with some of the youths like Little and Palencia being further developed and this will likely end up a much better group than last year.
Where I am nervous is the rotation. There are ties to Imanaga and Montgomery, but not super strong ones. Aside from Cease (who does not feel likely) the pitchers on that level on the trade market there's some question how actually available they are. So it's looking increasingly likely that we're just going to run it back with Stroman? This is a group with enviable depth that could have used a crown jewel type, and so adding a mid-rotation starter feels like a missed opportunity. Especially since you'd expect a step back from Steele this year.
There is, no matter what at this point, some significant missed opportunity this winter. This is certainly not going to be one of the offseasons we drew up in October. That said if you could promise me I'm not going to be pissed about the SP we wind up, I'd still feel pretty positive about the level of reinforcements we're going to wind up with.