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Yes, they did mishandled it. EA want's their CoD killer that BF never was and TF was exactly that: faster than CoD, made by the CoD guys. It had everything. But they believed that X1 would crush PS4 and Sony wouldn't matter, so they wanted to grab the extra cash from MS. But the market division wasn't as they expected and PS4 got a much bigger market and they weren't there.

Now Destiny will come and will start to become the CoD killer, because Activision is smart and know that no franchise lasts forever and if someone has to grab CoD's place, it's better if they do that themselves. So they got a famous developer and create a shooter with a massive marketing budget that simply will sell more than everyone expects on all platforms.

All games that opted for exclusivity never recovered from it. Metal Gear and Final Fantasy always sells much better on PS, Mass Effect on XB, it's just how it is. The first game creates a fanbase and people that gets out of this party will forget the game because they were denied to play it. People on PS wanted to play it and probably got mad because they couldn't and finally accepted it and put it on the same bag as Halo and Gears: the games we won't be able to play. People them focused their hype on the next CoD, Destiny, Uncharted any any hyped game that they could actually play. So TF will never recover from it and will always be XB oriented. That wasn't as bad as it sounds in the previous gen when install bases were basically 50/50, but now they will be associated with a smaller base.

The game was a good seller, but no matter what EA say, it didn't reach what they wanted. They want the premier shooter franchise that prints money and a gen transition plus the signs of fatigue in CoD made that their perfect timing. They would even manage to get a head start against Destiny but they simply screwed it.