Your friend writes:
I will not deny that the Bible students of the time had incorrect expectations of what Christ's coming really entailed, but they were aware that something special would take place then nonetheless. Let's not forget that the apostasy has been in full swing for so many centuries and the light of truth was obscured for so long. It would take time to get the correct understanding on things and adjustments would have to be made and humbly accept the discipline.
Or, rather than 'humbly accepting the discipline', the Watch Tower Society could snatch victory from the jaws of defeat by lying about their insight. "The Watchtower has consistently presented evidence to honesthearted students of Bible prophecy that Jesus' presence in heavenly kingdom power began in 1914." ( Watchtower, 15. Jan. 1993, p. 5) Not true. "Based on what [Jesus] said, along with the words of Daniel and John, Jehovah's witnesses pointed to the year 1914, decades in advance,* as marking the start of 'the conclusion of the system of things.' " ( Awake! 22. January 1973) Likewise, not true.
What can we conclude from these statements? Why not take the Watch Tower Society at their own words --
"A religion that teaches lies cannot be true." (Watchtower, 01. December 1991, p.7)