I think the importance of both size and depth tends to get overestimated. And so does how far teams will fall. Hasn't UConn been showing that for awhile now? The right coach could get Tennessee back to the Elite 8 with that roster. In part due to more clearly defined offensive roles because whoever is coaching doesn't have enough options to muck it up very much. Warlick probably isn't that coach, but if things break right she may anyway even if they have close to double digit losses again along the way.
Warlick can still trot out a starting lineup of entirely McDonald's All-Americans. There aren't 8 other teams in the country that can do that.
Massengale is capable of playing much better than she did as a freshman, particularly shooting the ball. There is a reason UConn recruited her so heavily and a reason she's consistently been the starting point guard for USA Basketball. She had better than a 2/1 assist to turnover ratio, the first Tennessee player to accomplish that was Kara Lawson. The last player to have more assists in a season was Marciniak. I don't think Massengale becomes a superstar, but she can be the foundation of a good team.
Around her you put Simmons and Spani. Two different kinds of wing players with now more defined roles. Burdick slots in fairly decently as a supporting player to fill in the gaps at the 4, which is her makeup. And I anticipate Bashara Graves will be starting at the 5 as a freshman, and I do like what i have seen so far from her. She should be able to rebound and score some as a freshman. Harrison is the backup post and Warlick has three guards to find a 6th man from. I'm sure they hope Carter is recovered enough from her ACL to be that player, but they can make do with Williams as they have in the past if the Elite 8 is the goal.
If they have injuries like they have been having for the last few years they're obviously in deep trouble, but if they stay healthy and can ride their starting lineup they will be relatively okay and I wouldn't be surprised if this was the first Tennessee team in a decade to have more assists than turnovers. In part because there are a few atypical Tennessee players on the roster and in part because they may actually develop a little offensive chemistry by having the same players play significant minutes together even if the offensive coaching isn't great. They'll most likely be a Sweet 16 team, but like Notre Dame I wouldn't be that surprised if they ended up in the Elite 8 because the reality is there are very few teams with their top end talent, and top end talent tends to carry teams pretty far in basketball.