If by "making sure you don't fumble" when you take a sack is effective blitz management I agree.
I didn't say the 49ers O-Line made Smith look good, what I said was, when you have an All-Pro left tackle and guard, a Pro-Bowl center and left guard and a sorely underrated RT who is certainly Pro-Bowl level, you shouldn't be taking 44 sacks in a season - especially a player as mobile as Alex Smith.
Incredibly, both Kaepernick and Alex Smith had exactly 218 pass attempts last year, behind the same line (as a first time starter), Kaepernick was sacked 16 times as opposed to Smith's 24 times. Yes Kaepernick has more mobility, but a lot of those sacks came down to inexperience and it's likely he'll improve upon that number this year. At least they drafted Eric Fisher to give Smith a chance to occasionally throw the ball. I still expect to see him lead the league in sacks this year.