I do not understand why there would be so many discussion. I think in general people considered Plushy would have a shot on podium in individual but not 100% guaranteed. So really his main task is to help Russia to gain Team gold, which he did.
Sure after the disastrous performances by the new Olympics gold and silver medalist in free skate, people would assume with what Plushenko did in team competition he really could have win a medal, maybe even gold. And naturally some people would think that if Kovtun attended instead of Plushenko Russia would have a shot. But all these are all assumptions. Plushenko risked his health performing great in team competition, and went on preparing for the individual, under the circumstances that the substitute skater is sick. He tried very hard, waited until the last moment still hoping miracle would happen so that he could skate. What's more one could ask from him?
It is not Plushenko's fault that Russia has only one spot. The other young skaters could not step up to create chances for themselves. I am not even talk about Kovtun's inability to bring back the second spot since he was indeed too young and inexperienced for WC (when he is not as talented as Hanyu). Let us assume that Plushenko would go to one of the WC and gain for Russia two (or even three) spots. But it would seriously damage his health (2012 he had problem with his knees so he went to doctors after EC; 2013 he had problem at his back and went to Israel for surgery). Can Russia risk to put Plushenko at risk just to make sure they have more young skaters showing on Olympics but possibly could earn nothing? I think not. And it is exactly why even if Plushenko lost on RN, as long as he can prove that he is ready, Russia still give him the spot. Kovtun had his chance to shine on EC and he blown it himself.
And back to Olympics, on team event, Russia won over Canada by 10 points, some people would naturally thought if Kovtun attended, Russia might still win. However, let us not forget that Plushenko's second, especially won over Patrick Chen is quite crucial for the tune of the team. That is an important point to win over Canada and boost the confidence in all other Russian skaters. Mental status is very important for such big Game, with Plushenko performing on fire, other skaters would feel less stressed and less worried. And to be honest, no matter how Plushenko's program might not seem so 'modern', he has such presence on ice, he is the scene to watch, he projects energy and holds the entire arena with his moves. That is the man who can lit up the entire stadium, with him in the team and fires as hell, you are on a winning boat. Can Kovtun do that? I don't think so. He is still too junior to me with only some good jumps but unfortunately he cannot deliver all the time.
Conclusion, Plushenko did what he was set to do, winning team gold. He tried his best to the end but his body just could not support his will anymore. He is a great athlete, a great Champion. People from all over the world say so. Russia should be proud to have him on their side, think about how many medals he brought back for Russia! He is national treasure and he can still do so much for Russian figure skating as a professional. Don't be narrow minded and so jealous. At least if you cannot say good things about him, just keep your silence.