Pakistan has been playing cricket for a very long time. It is a shame that we still have to say Pakistan has some potential. By this time, there should be one of the finest teams in the world, not a potentially good team. They should have been able to compete against the most competitive teams like Australia, England, and India, and not have one-sided losses. We can often see that Pakistan loses key matches.
It always feels like Pakistanis only keeping their opponent, in a good fight, but not performing well enough to win in many cases. Just like the World Cup final. Pakistan should have been able to do much better. But in the end, the only thing we could say was that Pakistan had given Australia a good fight.
If you are referring to last T20 WC then it was England not Australia that beat Pakistan after a tense fight. I don't think India in current form can be classified as competitive team (just an average team), Pakistan right now is as good as good as any other test team. The issue with Pakistan is there struggling middle order, if they can find few players that can play well at number 4,5 and 6 position then they have bowling lineup that can easily win the match.