Agree with this, Pico has just had his teething problems on a bigger stage than most people do.
Yeah, he tried to do too much too soon. Leandro Higo, a UFC-caliber opponent, in just his 5th professional fight was already a little crazy, although he massacred him in round 1.
Then, he moved up to Henry Corrales, a legitimately skilled and dangerous guy. He ALMOST knocked him out 1 minute in, but alas, at that level, guys are more durable and also more dangerous, and in chasing for the knockout and putting himself in danger, Pico paid for it.
Then, in response to this loss, he does the absolute dumbest shit imaginable.
First, he goes from Antonion McKee's The Bodyshop, a good, up-and-coming camp, to fucking Jackson Wink, a dying, antiquated team.
Secondly, he decides that the best fight back is immensely talented, undefeated, then 12-0 Adam Borics, a guy who is going to be a top-10 featherweight soon, if he isn't already.
Thirdly, Pico overreacts to the loss by changing his striking style completely to a wrestle-heavy one.
Predictably, this goes badly, too. He has made some poor decisions, but Pico is still only 23 and has fantastic wrestling and some of the most vicious striking in all of MMA.
His flaws are his chin and decision-making. The latter can be improved with training, and the former is not fatal, especially since his chin isn't THAT bad; the blows he got blasted with would have put out most guys.