If you are coming off consecutive bowl games, it’s not a complete rebuild. Doesn’t matter how you got there.
Syracuse has a losing record of 27-62 since its joined the ACC and just fired it's coach because of his role in it. All the recent years of mostly mediocrity and losing - now decades long - have tarnished SU's proud reputation and brand as an Eastern football power.
There are currently no talented/promising QBs on the roster, very few returning players with All-Conference pedigree or potential, and outside of Gadsen (who's return is uncertain), Wax and
maybe Allen, Stonehouse or DV - there are no clearly identifiable NFL prospects returning to the team.
If the goal is to compete for conference championships, this roster - with
some but not enough ACC caliber athletes - is presently not good enough. The current roster needs to be fortified/restocked with better, stronger P5-level athletes, a P5 QB room, more impact playmakers on both sides of the ball and more talented/capable offensive (and defensive) lineman - there's just no denying it, the talent and depth on this team has to be rebuilt, from down in the trenches up to the quarterback.
Having a roster barely good enough to backslide into "two consecutive" lower tier bowls - hasn't happened yet - doesn't mean that this team is just a few moves away from competing for conference titles, playing in upper tier bowls or vying for a spot in the expanded playoffs - the stated goals.
So while it might not be a "complete" rebuild, it's still very much a rebuild - a rebuild of the roster, the program and SU's iconic brand/reputation - no matter how you label it.