The Milwaukee Bucks are not built to compete at the highest level and the front office is to blame. Giannis Antetokounmpo is a transcendent talent, but the team surrounding him has gotten progressively worse since this team won the NBA Finals in 2021, and now they're closer to a full teardown than they are to competing for an NBA title.
There aren't any massively horrible decisions you can point to as evidence of this front office's struggles. They haven't had any big lottery misses (because they haven't really had lottery picks), there aren't any giant free agent contracts that immediately aged poorly, and the trades they've made — like last year's deadline deal for Kyle Kuzma — at least make sense in theory.