The '04 Lakers were very superior in talent vs the Spurs. The Spurs lost S-Jax and Robinson replaced by Hedo and Rasho and added Horry who was considered done in LA, while the Lakers added Malone and Payton to a team that already had Shaq and Kobe.
Still, the pivotal game 5 was decided by an 0.4 s shot and the Lakers didn't win the championship that year.
BTW, I have some doubts if any other franchise could have pulled that FA signings. Malone was was offered $10M by the Spurs but he signed for the veteran minimum, Payton was all-star the previous season and he signed for the MLE. Shaq was offered an extension if he lured Malone and Payton, and for some reason he yelled at Buss later "where is my money".