Last year's finish was a ray of hope, but probably fool's gold as well, Hoskins was playing over his head.
They could build on that, regress, get injured, surprise.
To me, the best reason for optimism is the depth of young starting pitching, you only need a couple to surprise, say Pivetta and Eflin which allows pitchers like Eickhoff and Lively to be pushed back to #4 and #5, where they're more than adequate.
The best reason for pessimism is that we haven't seen a full season out of Williams, Altherr, Kingery, Crawford, Hoskins, Alfaro, they could blossom, tank or not physically hold up.
I doubt you can negotiate an extension, both Harper and Machado are looking at 10 year, $350-400M contracts, at that point choosing where they want to go is more important than money - once you're filthy rich money has less value. So why would they lock themselves in this year when they can wait a season.
Best thing for Klentak is to stay the course right now, for all we know, maybe they discovered a flaw in Franco's swing (article about his low angle they're trying to correct, slow hitters shouldn't hit GBs) and he becomes a 35 HR 3B with a .800 OPS. Or not. But I doubt anything they do this year will make a difference next year when it comes to free agents, nor the Baltimore connections. So proceed as if the rebuild is still in progress, and if next year a mega free agent actually wants to sign here, so be it. But don't plan as if you can make that happen. Because like Ontani, those decisions wil probably depend on factors out of your control.
What you can control are the draft, LA signings, player development and trades.