It looks like the USWNT really misses leadership from women like Carli Lloyd. I can see why they are struggling if someone like Lindsay Horan has risen to captain among that roster. Horan may be a very nice person, but this team needs a bit more fire at the moment.
I doubt who is the captain is all that important. All of these ladies are elite, have been stars in youth, US national teams, college teams, pro teams, and with the USWNT. If they are dependent upon who is the captain of the squad, they never had a chance to win, IMHO.
To me, the problems are complicated. To some extent they are a victim of injuries. Mallory Swanson was on pace to be their top scoring threat, and ended up suffering a torn patellar tendon in a friendly against Ireland in April. They've replaced her with folks that don't have near the experience that Swanson did, and not surprisingly, they're having real trouble scoring goals. Becky Sauerbrunn's injury may be an even bigger issue. She was the USWNT captain, and an absolute rock on defense on the back line. Julie Ertz (who was questionable just 6 months ago, as between an injury then a pregnancy had not played in more than a year) is their best defensive MF. To compensate for Sauerbrunn's absence, Ertz was moved to CB, and the midfield has been an absolute mess throughout the WC for the USWNT. A strong case could be made that the best lineup tweak to make to improve the play of the team is to move Ertz to MF, and use one of the other players at CB (with the acknowledgement that doing so would weaken your back line). Lastly, Catarina Macario's torn ACL in June of 2022 really has impacted the team. The plan was to basically build an offense around her, as either an attacker or an attacking middle. As with the two others listed above, the USWNT hasn't really come up with a good replacement for Macario.
You have to play with the ones you have, so if you focus on just the current roster, the main problems have been at MF. As mentioned above, Ertz was moved to the back line. Lavelle is their best middle, but she was out due to injury for several months before the WC. That's why she was a sub in the first two games. And while she started the third game, she ended up getting a yellow card (a harsh call which I disagreed with), and since it was her 2nd yellow she'll miss the R16 match against Sweden. Other than moving Ertz up to the MF, I don't have many answers for the mess that has been their MF. That's where the team is falling apart. Horan is a very good player, but her game is size and strength. She has trouble with quick opposing middies. Her weaknesses were minimized when Ertz was cleaning things up in the midfield (in past years), but they kind of were exposed by Portugal.
The attack has been unimpressive, but they haven't gotten the ball in great situations. For example, Portugal kept 5 field players back even when they had the ball in their attacking third. So even if the US backline made a great play and started a quick counter, Portugal had numbers to snuff out the attack. And since the US MF was such a mess, most of their efforts have been long passes over the opposition's back line. Those work when you're vastly superior to the other team, but aren't all that effective against well coached teams. Smith has talent and speed on the outside, but she tends to hold the ball too long. Morgan is one of the better attackers out there, but she's being constantly marked, so most of her best plays have been in taking passes and playing them to teammates. Rodman has been OK on the other side, but too often she's getting the ball in less than optimum situations from the middies, and/or hasn't been all that effective in centering the ball.
Coach Andonovski hasn't done a lot to inspire anyone that he can correct things in time for the Sweden match. We'll never know how much the problem is him and his staff in terms of the team they assembled and their coaching versus how much the problem is the aforementioned injuries which caused major changes to the expected team.