NFL teams can rebuild within three seasons.
See the 49ers, the Seahawks, the Saints, and the Falcons in recent years.
Cam isn't getting much help from his front office. They should have traded Steve Smith. They should never have signed Jeremy Shockey. They should have invested in a stout offensive line the moment the drafted a QB with the #1 overall draft pick. Instead, they tried to give Cam some weapons which helped him break records his first year but obviously hasn't given him the tools to be successful.
I mean, when Brandon LaFell is your 2nd WR and your running game is weak, you've got problems.
Defensively they aren't that terrible. Definitely an improvement there, but this team should be built just like 2010 Auburn. Make sure Cam can do his thing all year, and you'll have one of the highest scoring offenses in the league and a guaranteed playoff appearance.