It’s not doom and gloom though it’s clear that even considering how a new car/engine could be difficult, McL weren’t expecting so many problems. Merc managed it better than McL have comparing 2014 to 15 for example and I reckon that given a year of learning about the engines, Honda would have hoped to be closer to the 2014 Merc testing that the 2014 Renault.
As to the car, as I think I posted some way back in this thread, McL, like Ferrari, made wrong decisions (as they turned out to be) on the fundamental design of the 2014 car which they couldn’t fix in the year. With that sorted for 2015, there’s no reason they shouldn’t have a decent chassis this year.
There are a few people who reckon that if they can get it running reliably then it’ll actually be pretty competitive – eg up with the Williams, Ferrari, RB, etc. Merc look untouchable right now though…