I'd like to see Trey do a case study on this (or just anyone else, frankly) to see what really went wrong.Someone more knowledgeable can chime in, but I think it was just wonky, unhealthy supercell dynamics.
Poor lapse rates can usually show up under a stout cap, but the dryline seemed to have decent enough LLLRs and was uncapped for storms to fire off and sustain themselves for a while. As the cap eroded in the OWS, storms were still able to take off (Barnsdall). That low level instability can be very important though as high 3CAPE values can aid greatly in stretching and tornado-genesis.
The High Risk was very clearly warranted based off of models and morning/afternoon observations, and yet almost everything still went wrong.