F-35 is a debacle
but I don't blame Lockheed. It is another artifact of the DoD acquisition system which is held hostage to the Congressional budget.
I have an elderly friend whom I met through my Grandfather who met him in 1947 when he taught him to fly T-6's in 1947. This gent went on to a career in ADC flying F-86D, F-94, F-89, F-102, F-106 and finally finishing as a Colonel in F-4's with the KY Air Guard. He said that as they evolved they expected all the new jets to be really flawed and that the next version would be better. At the time they were amazed that a jet cost $750K but readily accepted that it was an evolutionary process. He ejected from two with major (obviously) failures, an F-89 in Alaska and an F-102 in North Dakota. For campfire content he also has a letter from Jack O'Conner congratulating him on is superb Caribou and asking for details of his hunt.
The pursuit of perfection has resulted in an acquisition cycle that is so long that the initial requirements, matched against the technology cycle and then limited by Congressional budget limitations means an evolving requirement that always leads the ability of whatever you're building to meet what the services need. We've seen it with the F-35, V-22, the Seawolf, the CVN-78 and a myriad of smaller (or less media-centric programs).
Because failure is so career denhancing (new word!) the controls around what gets built get so extravagant that the costs skyrockets.
On the topic of the F-35, it's a mess. Other than the amphibs, the USMC has used the VTOL capability less times than can be counted on one hand. How much is that worth? Yes, there is the Royal Navy requirement to be assessed but still. The idea of a single engine jet at the boat makes my blood curl. Sure, one can accept that the F-135 motor is more reliable than any any tactical jet engine ever but when it fails in blue water ops it means I'm riding around in my LR-1 300 miles from 03-94-2L and hating life.
The services will make it work but IMO the F-35 is the new
F7U "Gutless" Cutless 
