Former European Cup winner Tony McWhirter says he believes Ulster have "retracted" this season.
The Irish province suffered a 15-10 home defeat by Connacht in the quarter-finals of the United Rugby Championship at Kingspan Stadium on Friday night.
They fell 17-15 to the Stormers at the semi-final stage of the URC last year.
"There doesn't look like there's any freedom there compared to the much vaunted back-line we saw a couple of years ago," reflected McWhirter.
"Connacht looked the hungrier team, their level of accuracy was good and they executed their game plan well. Ulster had no plan B and will be hugely disappointed.
"What do Ulster have? They have a maul and a decent kicking game but outside of that there's not a lot of flair. They've lost that ability, that strike runner, that strike move."
Ulster's Champions Cup campaign came to an end at the last-16 stage with defeat by Leinster but it will be their reverse at the hands of Connacht on their own patch with the potential of a home semi-final to look forward to which will hurt most during the forthcoming close season.
It was announced on Thursday that among 10 players leaving the province are South African World Cup-winning back-row Duane Vermeulen and props Rory Sutherland and Jeff Toomaga-Allen.
The arrivals for the 2023-24 season will be Exeter Chiefs number eight Dave Ewers and Stormers prop Steven Kitshoff.
"You look at the calibre and depth of what's leaving compared to what they [Ulster] have been able to attract," Ulster's 1999 European Cup winner McWhirter told BBC Sport NI.
"The squad size is going to be reduced remarkably but this result may dictate they go into the market and find another couple of players.
"The players coming in are good players but are they going to make a big enough difference to the Ulster side given the players that are going? Is it enough to get Ulster to the next level?".
The ex-Ulster number eight believes a period of reflection awaits Dan McFarland and his coaching staff over the summer months.
"There are a lot of questions for the coaching staff, in their own minds and as a collective unit. It's going to be a long off-season. They're going to know they've missed an opportunity.
"Ulster need to be organic and clever with what they have. They need to find Irish talent.
"We need to have a scouting system around the world to find players and ask them if they want to come here to play and have a chance to pull on the green jersey."
'There will be a lot of finger-pointing'
Ulster's failure to pick up silverware means their wait for a first trophy since winning the Celtic League in 2006 goes on.
"Retrospectively there will be a lot of finger-pointing," said McWhirter.
"There'll always be that element of 'that's not good enough, sack the coach', but is that the answer? I don't think so.
"The vast majority of the crowd may have underestimated what Connacht were going to bring to the table and maybe the level of expectation within Ulster Rugby is too much.
"Ulster fans expect a level of results, they expect trophies, at least to be challenging every year, but maybe they are in a bit of a flatline phase while Connacht and Munster are improving and Leinster are right at the top of the curve and keep on going."