Well, what do you mean by "if everything breaks right?" If everything breaks right for the Lakers in 2012, they would have won the championship, it would be true for every team, but unfortunately for you, nothing broke right for the Lakers that year, and they ended up 7th and swept in the 1st round.
When I read "everything breaks right", I would imagine it being everything went according to plan and within expectations. According to most people, that would be a championship, according to you, that would be a WCF. They ended up 7th (really struggle to even get to the playoffs, aided by a su ious streak of FTA disparity not only for them, but for teams that compete with them for the 8th spot in the final few months of the season (see the post I made back then, too lazy to dig it up). Therefore, even according to your standards, it was a failure.
So ... Lowe said they are not a slamdunk favourite, and that they are in the running for the le, and I agree with that, because Duncan is ALWAYS in the running for the le (except 2009 to around 2011). In fact, Lowe said:
What's this? "a chance to be devastating", "It’s too early to declare them undisputed favorites, especially since ...." Doesn't seem like a ringing endorsement to me.
The article is absolutely right, the Spurs were the biggest winners in the offseason, no question about that. It also didn't say the Spurs are odds-on favourites to win it all.