You could probably case that it could have been handled better but considering how relatively stable things are right now, I wouldn't call the bailout a botched bailout.
Have you seen a country where the banks failed and there was very limited money for bailout? I have. The IMF was called in to help with the bailout and they made demands that ultimately took down the government. In this case, it was probably a good thing because it was a corrupt dictatorship that was eventually weakened to the point of being overthrown (forced to resign but essentially the same thing).
http://rspas.anu.edu.au/economics/publish/papers/wp2003/wp-econ-2003-05.pdf
But imagine that happened in the US and there was no cavalry to help.
If there was no bailout in Indonesia in any shape or form, the crisis there would have become more severe, it may not have been able to stay as one country and may have even become a failed state with a few pockets of stable areas running autonomously.
Although I doubt the US would have turned into a failed State, life right now might be very different (for the worse) had it not been for the bail out.