There's also the possibility of slipping to the eight spot and getting ourselves another first-round sweep by the Cavs, which is probably an even less appealing possibility than missing the playoffs entirely. Chicago is only a half game ahead of the Pistons and playing badly themselves though, so I don't see this happening either.
Getting caught by the pacers and having to play Toronto round 1 is probably the worst thing that could happen at this point. That's fine. I don't think it's impossible that we beat them in a seven-game series assuming that Jae is back.
Realistically all this upcoming bad stretch is going to do is take away any chance we had of home court advantage. That's certainly annoying but it's not as crippling as it could have been if we hadn't built up the head start we did before Crowder went down.
Big picture, falling into the bottom half of the standings and getting wiped out in the first round again wouldn't be a major deal. Would take some wind out of the sails compared to the midpoint of the season, seeing as we'd be in sort of the same spot as we were a year ago.
Not a reason to panic or get too down, though. We knew this team was still a few moves away from being where we really want it to be. Plenty of encouraging signs this year, no matter what the final record is.
It's a lot easier not to get too worked up about a bottom seed playoff appearance when you've got a likely top 5 pick on the way from a different team, and the draft is weak enough that picking 15th or 16th probably isn't so different from picking 10th or 11th, unlike last year.