It’s definitely not even a less able group, they put 7 past Forest in the cup and looked really good under Baines, like you say though individual results are just highly variable at that level and not a massive barometer.
For one example, Arsenal’s 18s lost recently to Reading, but I’m sure they’re not panicking about it. Especially when both their and our 18s are missing their best individual eligible player (Armstrong, Nwaneri) because they have moved to senior level, which is the real indicator of the academy doing its job.