The NBA is in a transition phase right now. Most of the dominate players from the past decade are almost done (KG, Truth, Kobe, Dirk, Nash, etc) while the upcoming generation is good but not quite there yet (Griffin, CP3, Gallinari, Lawson, Hayward, Dwill, Lopez, Lillard, Curry, Favors, etc). With the exception of a few players, like Lebron, Melo, and Kobe, there just aren't many dominate players right now... Especially in the middle. Go back just a few years and the league was filled with Duncan, Robinson, Webber, Shaq, KG, Dirk, etc. Here in a few years players like Lillard, Griffin, Paul George, Favors, Irving, Robinson, Harden, etc are going to be incredible.
I think you also need to consider the injuries to franchise players too. I can't remember a time when so many stars were injured. Dwill has been injured most of this year, Lopez has missed some time, the stars from the Lakers have missed time, CP3 has missed significant PT, Wall just barely started to play, Love never really played this year, Rubio just started to play, Bynum hasn't even played, Eric Gordon missed a ton, Dirk missed a huge chunk, Rose has yet to play, and Rondo is gone.
The Jazz are actually in a pretty good spot right now. There isn't any team in the west that scares me (other than the Spurs because pop is our daddy). No team is overloaded with HOF vets in their primes. Even OKC has some serious weaknesses (bad bench, no one other than their big 2 can score, their bigs are offensively inept, etc). Spurs? Awesome team but a lil past their expiration date. Duncan isn't what he used to be.
We are just a good HC and trade(get rid of Jefferson) away from really having a chance to catch fire and go deep ala 07. Seriously folks, lets assume we played the Clips or Grizz in a 7 game series. We'd compete. I'm not sure if we'd win. But we could compete. Denver, GS, or Houston? Again, we could compete. Even against OKC, we could compete.
If we somehow made it to the Finals we'd probably be rocked by King James and the refs... But at least we would have an advantage inside, which could make things interesting. Just like the Pacers did for a few games in the playoffs last year, feed the animals inside and beat the hell out of them in the paint. Too bad our focal point on offense refuses to play physically....