I disagree--for the last twelve months anyway. However, regarding the 5 months or so after the RD successes, you do have a case for the macro argument. But it is still reasonable to assume that mngmnt has failed to execute successfully because, well, they mainly suck. In other words, they have a gem in their possession that they cannot sell, because they have been unable to adapt and position themselves in a smart, focused, and persuasive way. If only mngmnt was as impressive as the science--that would be something.
You did hit on something with regards to 'ordinary,' though. The mngmnt team is definitely ordinary, and that is why they have failed us. Likewise, their wages should also be ordinary. Similarly, their bonuses (i.e., options) should be forfeited, although I guess they are technically anyway, as a result of the limp pps.