As somebody who recently opened 5 bottles of red wine to get one drinkable bottle, this is spot on. Most of the bottles i opened were 2010-2012 vintage. Fortunately, they were also all free. 3 were possibly drinkable if i really really needed to drink bad wine. 1 was out and out bad. 5th bottle was not exciting, but it wasn't all that great when it went into the bottle.
-Zach