There's no way an injured rookie and an over the hill vet make up for one of the best pass rushers in the league. Not by a long shot, at least in the short term, which is the concern we have now with Manning.
In the long term, Phillips isn't part of the equation, and Smith will need time to develop & coming off injury will slow that. I also don't find it fair to place the majority of the expectation solely on a 5th round draft choice. Long term, others will have to be brought in to supplement, so overall, no, I cannot say that I am satisfied with what the FO has/hasn't done to replace Doom's production.