Once Bill decided to address the cap situation in such a drastic way it was obvious to me that the team was going to struggle in 2020. No team can lose instrumental players like Brady, Collins, Van Noy, Shelton to FA then lose Hightower, Chung and Cannon to Covid and not expect a big drop off. Plus they lost depth pieces like Develin, Vitale, LaCosse, Roberts and Karras which hurt. I hated watching them struggle so much but I do believe that the purge was in the best long term interests of the team. Keeping Brady and a couple of the FA's would have required some fancy cap contortions and I am not sure it would have resulted in much more than a WC berth so I am reluctantly glad that they did what they did.
For 2021 BB absolutely needs to find a solution at QB. I would be fine with a Jimmy G type that you can plug and play for the next few years while developing a draft pick.
BB has always done a great job finding underperforming middle class players like Vrabel Van Noy, T. Brown, Branch and eventually turning them into rich men and he'll need to hit on some gems on the cheap this offseason. Hopefully fill gaps at DE, NT, LB and TE.
Sign a stud WR and/or TE with some of the cap space.
If they can hit on the draft and the players from 2019 and 2020 can develop they can be back in the thick of things quicker. Halfway through last season the Dolphins looked like an absolute disaster but because they had a ton of cap space they are now a win away from the playoffs so things can change pretty quickly.
If they can come out of 2021 with a QB of the future and things heading in the right direction I will be pleased even if they fail to make the playoffs again.