Rain during the fourth Test at Old Trafford ruined England's hopes of teeing up a decider at The Oval, though Stuart Broad's heroics did at least allow them to level the series at 2-2 with victory in the fifth Test.
While England's wait to recapture the urn continues, supporters and players took solace in denying Australia a first series win on English soil since 2001.
Captain Ben Stokes said he was "proud" of England's performances after the fifth Test, describing the draw as a "fair reflection" of the series as a whole.
While Gower agrees with that assessment, he does not believe England will be alone in wondering what might have been.
"Let's not talk about moral victories, that's just a red herring," he told Stats Perform. "It's 2-2, that's how it'll stand in history forever.
"I think it's a fair reflection. If you talk to people in Sydney, Melbourne, Hobart, Perth and all the rest of Australia, they will say Australia could have won it.
"It's a certainty that if you talk to people in the United Kingdom, they will look at all the things that could have been slightly different.
"They'll look at the weather in Manchester and say we had the moral victory."
Gower added: "I guess what's fair to say is that England were destroying one of the best bowling attacks in world cricket at Old Trafford.
"That assault at Manchester was awesome. If you want to talk about moral victories, maybe that's the one place you're allowed the leniency to say that."
Gower believes the series' many twists and turns should ensure it is remembered as one of the most entertaining of the modern era.
"This is right up there with the great series, or at least the ones in living memory – I can't go back to beyond the 1930s," he added.
"I was part of the 1981 series, which was [Ian] Botham's Ashes, Botham and [Bob] Willis's Ashes in many ways. That was a brilliant, brilliant series to be part of.
"Then 2005 was outstanding, we had some fantastic performances there. Great drama, great theatre, and this year was certainly up there for drama and theatre. You can argue about the overall quality, but there were some stunning performances.
"You look at the human error… at the end of it all, you can imagine that the results – English fans would say – could have been very different. If only.
"But the Aussies will say the same. Rain at Manchester, who'd have thought it? Weather in England… you have to factor these things in at some stage.
"At the end of it, I would say that the quality of the cricket between the two teams was outstanding."
Gower feels much of the series' intrigue came from a clash of styles, with England's aggressive approach under Brendon McCullum contrasting sharply with Australia's more conservative way of playing.
"Before the series started, there was an element of it being a clash of cultures," he said. "The so-called 'Bazball' against the more traditional way that Australia play.
"Sides have to play the way their players play best. England have a lot of gifted batsmen who have the capacity to force the pace, as per 'Bazball'.
"Australia have batsman, for instance like Usman Khawaja, who will just stay at the crease and make runs in quantities and buy time, use time. He was outstanding as well throughout the series."