A team can only go as far as its tools will allow. For whatever reason, Ferrari's design tools are in a pretty sad state. I imagine that's because they were very successful for a very long time without them. But, times have changed, and the team can no longer rely on Fiorano to be the venue for the lion's share of their development work. It's now CFD or bust.
The season started as a tire lottery, and Ferrari used their new Director of Tire Development, Hirohide Hamashima - former director of Bridgestone Motorsport Tire Development - to great effect, as they were the first team to gain a working understanding of this season's tire's characteristics. Combined with strong strategies, flawless execution, and excellent reliability, the team was able to capitalize on the mistakes and vulnerabilities of other teams to eek out a decent lead in the Driver's Championship for themselves. However, as the season settled into a development race rather than a tire sweepstakes, the Scuderia has fallen back to a level that befits its design strength, which is to say, the team is now where it probably should be: way behind Red Bull and somewhat behind McLaren.
Two things to keep in mind: First, F1's new regulatory landscape was specifically designed to break the stranglehold Ferrari held on the World Championships in the early 2000s. "Cost cutting" crippled the team through the testing ban and the engine freeze, Ferrari's two biggest weapons. The engine freeze has been particularly tough, because the Type 056 V8 is fuel-thirsty and it runs hot. In an environment where efficiency and aerodynamic packaging have become paramount, those are two awful problems to be stuck with.
Second, the most successful team over the last three years owes much of its success to openly skirting the Resource Restriction Agreement. Christian Horner, Red Bull's Team Principal, recently asserted his team's view that Red Bull Technology is but a supplier to Red Bull Racing. As such, Red Bull Technology is not subject to the terms of the RRA. That's a hell of an advantage, especially when you consider that one Adrian Newey is on Red Bull Technology's payroll.
Of course, all Ferrari fans want more out of a season than we've seen this year. But, it could have been a whole lot worse. Remember Melbourne?