With hindsight, yes. But then there'd be some criticism of the club (and players maybe) for lacking ambition by not testing them out at a higher level when the chance arose. To be fair, we've been slated endlessly for sending players out to non-league clubs for loans so it seems harsh to be critical now we've sent four out to League 1, even if they haven't worked out.
I've said before that lads like Harris, Bagan and Tanner have come back as first team squad members after poor loan spells so it's not the be all and end all. Maybe someone like Colwill has learnt more about himself and what he needs to work on from Exeter than from Cheltenham, who knows? It does feel like a chance wasted for some of those lads to demand a first team spot here next season though.