Vicente Del Bosque's side have endured a terrible World Cup, falling to a 5-1 defeat to Netherlands and a 2-0 reversal to Chile to exit the tournament in an unexpectedly hurried fashion.
Netzer, commenting on la Roja's demise, sees similarities between the way teams have found ways to overcome the 2010 World Cup winners and the fact Peo Guardiola's Bayern were equally undone by Real Madrid in the semi-finals of the Champions League last term.
"The problem is that the other teams have simply adjusted to the Spanish system," the 69-year-old wrote in his column for Bild.
"The times are gone when the opponents were glad when they had conceded fewer than five goals. Spain are suffering because other teams have improved systematically.
"The bigger problem, however, is home-made. Similar to Bayern under Pep Guardiola, the Spaniards' game suffers in that chances are played out and not translated into goals. If Spain had used the opportunities that had arisen, we would not now be discussing their World Cup exit.
"The point is to partner effectiveness with dominance - in the Spanish national team as well as at Bayern. The philosophy must be even more focused on success."
Netzer, who himself was a World Cup winner in 1974, believes Spain must make wholesale changes, but says that does not necessarily mean starting with the removal of their head coach.
"It is not my thinking that this must also automatically be the end of coach Vicente del Bosque," he continued.
"Because if you are totally convinced of a coach['s talent], you have to forgive him his failures. The same applies for the DFB and Joachim Low and his output at the World Cup.
"It would be wrong to now throw everything overboard, [when] it was seen to be correct just a few weeks before. Football must not condemn you with one blow."
"I do not think that the Spaniards' successes of the past tournaments have gone to [Del Bosque's] head," he added.