Under Bush, they tried to track the guns with GPS and have the Mexican authorities on the other side pick them up to further the investigation. They coordinated the effort with Mexico. As soon as it was discovered that the Mexican authorities weren't tracking them once they crossed over, the program was cancelled. Under Obama, they had no coordination with Mexico, no GPS tracking and no clear objective on how to "connect the dots" on the Mexico side. Most astute observers recognize that this was a coordinated effort between the administration, Dept. of State and DoJ to further the anti-gun agenda and call for stricter gun laws, particularly the ones related to straw purchasers.
Hey Poop, this post by GTG is pretty much it in a nutshell. There is no other objective that I could dream up. Even ATF isn't that incompetent. To be incompetent you need an objective that you are seeking and fail to achieve. Just letting the guns go with no idea or effort to know where they end up is not incompetence, it's the total and utter lack of an objective. Unless of course, your objective needs to remain unknown for some reason? What possible other reason could it be? Like it or not, they were simply following orders as evidenced by the few that spoke up. Wonder what happened to those?