They showed us that much on Thursday night.
The key word there is can - as opposed to should or will.
Question marks had lingered as the side disposed of minnow opposition in the competition's early rounds in Liverpool. A comfortable win over Malawi, to whom the Ferns lost to a year ago, was encouraging.
But the 50-49 loss to Australia, which set up a semifinal against England tonight, showed the Ferns are right there.
Australia held control for a long period. It led by nine goals at one point, its defence suffocating the Ferns and pressuring them into mistakes.
The Silver Ferns' defence picked up plenty of ball and ensured the Diamonds never truly got away.
But through the middle of the game New Zealand was unable to be clinical enough to use it to negate the deficit.
Towards the end of the third quarter the attack began to click. It reeled in the margin and Maria Folau's shot in the dying seconds came within centimetres of claiming a draw.
Despite the loss, the question of whether they are capable of competing has been answered. Now the question is can they build on that?
Can they play as they did through the end of Thursday night's game for four quarters? If they can, there is no reason the Silver Ferns cannot win this tournament.
Australia had the upper hand for a long period, yet still only scraped through. It is not unbeatable, although there is no doubt the Diamonds are good.
So is England.
The Silver Ferns just have to be good as well.
That means playing to their potential - finding that elusive consistency for as long as possible, making sure they get as much turnover ball to the shooters as possible and that
when it arrives there, the shooters are accurate.
But the pressure of the Australian defence did just enough to force the Silver Ferns into bad passes.
Courtney Bruce was a menace in the defensive circle.
At the other end it was just that little bit more clinical. Caitlin Bassett was accurate and Steph Wood was at times sublime.
By the time the Ferns adapted the intensity lift they looked just as good. It is just a case of ensuring they continue in the same manner.
The English will be simliarly tough to beat.
Geva Mentor spearheads another outstanding defensive unit and its attack was clinical in dismantling South Africa.
The experienced Silver Ferns need to stand up again.
Folau, Laura Langman and Casey Kopua all showed their value and control against Australia.
But equally the likes of Jane Watson and Ameliaranne Ekenasio need to continue their strong form.
If England can be dealt to, a rematch against Australia almost certainly awaits in Monday morning's final.
Whatever the result, it has been a massive turnaround from 15 months ago.
But the ultimate turnaround would be that much sweeter.
