They are lucky if they can even go to playoffs.
They understand the situation they are in, so they also don't expect to make the playoffs because they can justify it. It was a gamble to still play Haliburton in the finals even though he was already injured, and now they will be paying for a whole season without him. That will have a big impact because ticket sales will likely drop if they can't be as competitive as before.
With such details at hand, Indiana is nearly out of the contest, so to speak.
Even though their regular finish was solid (50-32, as far as I remember), they are not the contenders they were with him at his best.