That's a fair question. I think JimBo patted himself on the back a little too often for some.
The market has changed too.
That said, I think JimBo needed to walk away from a few deals over the past few years rather than make them. I know he's got payroll issues, but I think he had to establish the worth of his players on the market. The recent Todd Walker trade is an example. Player-wise the deal makes no sense. It's not shooting the moon to ask for someone who can make your team.
The phrase "lost it" probably doesn't describe him properly. I get the feeling he's worn down and that he doesn't have the same sense of what kids are about to break through that he once did.