No, Gil and Ellen were incompetent. If they had understood how to separate the wheat from the chaff, a useful version of Copland could have been out in 1997. They were not willing to say no and fire people. The first thing Steve did when he took over? Mass layoff.
It was absolute malpractice to buy NeXT for the OS, which was an obsolete, moribund, and expensive version of Unix.
What they ended up getting was adult management, which was not what they bought the company for, but was what Apple needed.
How could Apple could have gotten a real OS more quickly? The Mac OS of the time had no preemptive multitasking or protected memory, so software running on it was doomed to be made unstable by all the other software. NextStep, maybe it was what you say, but they needed to make a change.
The lack of protected memory was pretty insidious—essentially the kernel relied on application memory for its own internals in MacOS, and reentrancy was a problem for, oh, everything. Copland was to fix that first problem though (but only for new apps).
BeOS was the other option being considered. It was arguably more advanced and powerful than NeXTStep. But Jean Louis Gassée played hardball thinking he had Apple on the ropes, and they went with NeXT instead.
The big advantage of NeXT was the development tooling, it was streets ahead of almost anything else. As a unix it was nothing to write home about, but as a desktop OS it didn't need to be. Just being a Unix at all with decent networking was a huge advantage compared to all the misconceived desktop OS projects at MS, IBM and Apple at the time.
It was absolute malpractice to buy NeXT for the OS, which was an obsolete, moribund, and expensive version of Unix.
What they ended up getting was adult management, which was not what they bought the company for, but was what Apple needed.