Definitely possible, but I think the larger issue is that he's just not ready. It's no secret that he's a raw prospect: everyone knew dating back to last year that his mechanics and accuracy were not pro-caliber. He was drafted on the strength of his raw athleticism, intangibles, and willingness to work his ass off to get better.
He just hasn't had enough time; he really has no business being on the field right now, but when the alternative is Tom Savage, well, you pretty much get thrown out there by default. So I'd hesitate to write him off too quickly, for a lot of the same reasons why I don't think Brissett's loss to the Bills last year was career-defining.
If he still doesn't look like he belongs a year from now, then I think the time's right to start questioning if he can play in the NFL.