Too early to call Manziel a bust, but I'll be shocked if he's not.
Being a good NFL quarterback might be the most rare skill set on earth. You need to meet certain physical requirements (for which Johnny is barely adequate) and you need to have a tremendous work ethic to maintain and improve a very specific skill set set (which Johnny doesn't), and then you need to be able to process information and make right decisions in the split second you have to work with, or improvise when things go wrong (Johnny does have that). Two of these three things, I think a player can work on and improve on with the right attitude and enough experience. The big thing is that Manziel is kind of an unusual situation in that he's independently wealthy and just seems determined not to care about putting in the effort.
As I see it, if Johnny had Mike Vick type of physical talent, or if he actually had some work ethic, he'd have a great chance to be a great quarterback. But lacking both of those things? Taken Voice: Good luck.
And I'd add this: for those who think his height doesn't matter, Drew Brees and Doug Flutie truly were exceptions. Russell Wilson is a good quarterback, but he's struggling to play within the pocket and this is something a lot of people are noticing right now. Russ has off-the-charts intangibles and a great skill-set, but what he doesn't have is a 6'3" frame. He's still working to overcome that. Johnny Manziel does not have Russell Wilson's tremendous intangibles or work ethic.