Recency bias applies to everything in football. When things are going well the manager "is the next Jimmy Sirrel", we've got the best owners ever, the loudest fans, never seen so many new young supporters etc. etc. When it's going bad, Sirrel would "turn in his grave", players not fit to wear the shirt, worst atmosphere ever, an ageing fanbase that's dying out.... and so on.
You need the perspective of at least 5 years to make fair comparisons and to put it all into proper context.
Yes, they can't get past the "Tottenham'' part of it.
An example that comes to mind is Tom Cleverley, because he came up from Man Utd youth he got picked for England (fell way short), then got a contract at Everton, before soon after finding his real level at Watford in the Championship.
You can never be sure, but my take is that George is definitely NOT a L2 player. But not necessarily a Premiership player either, I'd say no worse than a really a good Championship player in a couple of years' time. That means we're lucky to have him now, and why, based on his all round game, he's by the far the best of the central midfielders we have. MP, Robbo, Hinchy won't be threatening the Championship any time soon.