The Reds captain and former players gave forthright views after a dour 1-0 defeat in Switzerland.
Indeed, during the 1-1 draw with Everton in the Premier League last weekend, Gerrard says the Reds showed improvement.
But, during the 1-0 defeat on Swiss soil on Wednesday night, the Liverpool skipper thinks his side returned to the poor form they showed earlier this season.
"We will discuss it, we will analyse it like we always do," Gerrard told Sky Sports. "There were signs against Everton that we were coming back closer to where we wanted to be.
"We were aggressive with and without the ball against Everton. But we went back to where we have been for most of the season tonight, which is not good enough."
Similarly forthright was former Liverpool midfielder Dietmar Hamann, who believes confidence has hit 'rock bottom' at Anfield.
Ex-Liverpool boss Roy Evans, meanwhile, also admitted he 'didn't enjoy' the game and questioned the passion shown by those on the pitch.
Disappointing evening for LFC. No rhythm no fluidity and confidence seems to have hit rock bottom.Team needs supporting now.— Didi Hamann (@DietmarHamann) October 1, 2014
Sorry guys didn't enjoy any of that game lacked intensity tempo imagination even passion very unlike Lpool team performance Must improve
— ROY EVANS (@Roy_Evo) October 1, 2014
Perhaps the most damning indictment of all was given by former Liverpool striker John Aldridge, however, who thought Basel were a poor side that should have been beaten.
The Reds' performance in response, though, left him tearing his hair out...
I think I've torn all my hair out watching that game.So frustrated,and it goes without saying they are no great shakes either.not good!— John Aldridge (@Realaldo474) October 1, 2014