It's a pity to see so much hating and fanatical words instead of good comments on basketball.
Not many Spanish people come here because Spain is one of the European countries with the worst English level, but also because we have at acb.com one of the world top basketball forums (where you can find a lot of crap, but also excellent analysis).
The Spanish squad is playing really awful basketball. They have huge problems on defense, where there's not enough intensity, the defensive rotations are way below average (take Asik performance in the first half as example), and some of the best Spanish players are delivering there a dreadful level (Pau Gasol, for example).
The defensive struggles are limiting the Spanish ability to run the floor, where they find themselves more comfortable. But also Scariolo is a coach who prefers the set offense, and Spain is lacking the goods to make it work. Starting with the PG spot, where López and Cabezas look almost useless and Rubio isn't living up to the challenge (Scariolo is not designing good enough offense to take advantage of his abilities IMO).
Then you have Rudy Fernández and Navarro playing a lot of minutes together, which means a smaller and less physical line-up, while they don't really complement each other (one of them always plays bad).
Spain is also missing the spacing created by a shooting power forward, with Garbajosa in the downhill of his career. So there's little space for the low-post guys, right now the most effective Spanish weapons. And regardless, Pau Gasol is completely out of shape and Marc Gasol is lacking go-to character, as he's passing up too many low post opportunities where he has a clear advantage.
In general, there's less perimeter firepower than in previous championships. Spain would bury you with ridiculously long-ranged three pointers delivered by Calderón, Navarro, Rudy, Mumbru or Garbajosa. Now Calderón is not with the team and Rubio can't shoot, Garbajosa and Mumbru can't make them, so the shooting potential has decreased dramatically. Since Spain was a very happy shooting team with a relatively low elaboration of the plays, it's hurting them a lot.
And another thing as well: Spain is suffering a lot because of the refereeing style. The Spanish team is kind of soft, and doesn't take well so many contacts, which are more allowed than in previous events. I'm not complaining: it's just a different style that doesn't suit the current Spanish brand of basketball.