WFT fan coming in peace trying to learn: What happened and what is happening?

From far away outside looking in, y'all have two franchise cornerstones in JJ and Watson, and not too long ago had a pretty damn good WR as well.

What happened?

The reason I ask this, is because my fan base is insane – so a faction has started just Jersey swapping every QB, and Watson comes up often with an argument of 'rebuild'.

So if you are generous enough to inform me, I'd like to know.

Edit: Skimming the subreddit seems like HC and defense are current problems.