The Azzurri opened their campaign with an encouraging 2-1 win over England but then suffered a shock 1-0 loss to Costa Rica before being defeated by the same scoreline by Uruguay in what was effectively a play-off for a place in the last 16.
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"Prandelli had done well up until now," the ex-Azzurri coach told Ansa. "We trainers often have to make wine with the grapes that we have and maybe in Brazil we were also unfortunate.
"But until the World Cup, we had done well."
Trapattoni argued that Italy simply paid the price for too many players being out of form - or shape.
"The opponents [in Brazil] were better than us on an athletic level," the former Republic of Ireland boss claimed. "We didn't have the capability to react.
"One cannot say if someone is a champion or not on one tournament alone. Maybe a player simply performed below par.
"I myself lost a Champions League final in Athens with [Juventus] despite having [Michel] Platini and [Zbigniew] Boniek!"