Yes.
The AFC as a whole is rebuilding. Teams such as the Broncos and Patriots are tied to their old quarterbacks and only have a handful of years left to take a shot at the Superbowl. Former dominate teams such as the Colts, Steelers, and Chargers are rehauling their roster(some faster than others obviously). Teams such as the Jets and Raiders have to rebuild but are currently strangled by salary cap concerns.
We have the ammunition to get a jump start on rebuilding. If we hit on our draft picks we could be contenders as soon as 2014(to put that in perspective, Manning will be 38 years old and Brady will be 37). If we miss on those draft picks or make some Gibril Wilson/Jake Grove type signings, we could set this team back for years. Look at what happened in 2008. We had salary cap room and 4 picks in the top 3 rounds. What happened? We have a single player left from that draft(Jake Long, who could walk) and were recently unable to sign any free agents because of previous bad contracts.
For every draft pick we miss on, another team hits on. For every bad free agent contract we give out, we are prevented from signing a good free agent in the future. For the life of me, i cant recall a more important offseason. If we screw this up, Tannehill could be 28 by the time we feel the full effects of our mistakes and are forced to rebuild yet again.