Pretty much.
Atlanta's 2 NHL teams never once won a playoff series EVER. This latest incarnation never won a playoff game, getting swept in their only kick at the can.
Don Waddell was the GM from day 1, and though he did finally give up that title (but still was club president) his poor decision making was not surmountable in a single year.
The Flames never drew less than 12k/game until their last year (building only held slightly over 15k) when the writing was on the wall (and they still drew over 10k). This team had good crowds the 1st few years, but it had a cluster for ownership and Waddell overseeing personnel. There was no way for THAT to be overcome and ultimately, THIS team never had a chance.