Firstly am I capable of knowing if I can make it all the way to FO from my limited flying
No, there is no way to tell. Did you get feedback from your instructors as to where you needed to improve?
how do I explain what happened
To whom do you expect to explain. Other schools in all likelyhood won't care. Provided you get decent CPL and IR passes it shouldn't feature as an issue at interview. However, should a lack of progress become a problem with your next school then you may need to reconsider where you are going with this as a career.
At the end of the day, to get a job on something big and shiny with low hours you will probably have someone somewhere looking through your training record. To type rate and line train somebody takes a lot of time, effort and money. Airlines, quite understandably want minimum risk with cadets.
sr