The new Blues coach didn't mince his words after the 40-point loss, saying his side was undone by a lack of run and competitiveness.
He said the dismal defeat, which ended an overall encouraging pre-season, had revealed a few new things about his side.
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"Yep," Malthouse said when asked post-match if it was a reality check.
"And probably a good one for me too to have a look at what we're like under pressure and when things go bad, how we can do something about just stopping the play and doing something about it."
The Blues only managed one goal in the second half having led at the main break, but then conceded nine goals as the Lions ran away with the win.
Malthouse noted the centre clearance tally as a factor in the defeat (the Blues lost it 19-7), and said the game - and last week's tight loss to Adelaide - had shown the side still needs time to bed down its new game plan.
He predicted that adjustment period could eat into at least the first few weeks of the home and away season, but said it was vital for the team is to move forward.
"We got smashed at the stoppages. We got smashed on our crumbing. We got smashed in the run," he said.
"I think we just need to reassess what took place the last two weeks and work on it for the next two or three months and see if we can iron those things out. Two or three months takes you into the season and that's not such a bad thing at this stage.
"I'm a realist. Things don't change like that in football clubs. You've got to make sure you stay sound to it, and each week you keep chipping away and getting better at it."
Malthouse said the Blues had made some "significant strides" in some areas over summer, but that the development would need to continue as he gets to know and assess his players more closely.
Former Blues captain Chris Judd returned for his first game of the pre-season after a hamstring strain and had 15 disposals, but spent a significant time at half-forward, perhaps contributing to the centre-square drop-off.
Malthouse said that was merely so Judd could ease himself into some match conditioning before the club's season-opener against Richmond in less than two weeks.
"He was never going to spend time in there (the midfield) today," Malthouse said.
Follow AFL website reporter Callum Twomey on Twitter at AFL_CalTwomey.