It's not so much the offense itself, as it is his puck touches and decision making.
In his first two years, he was almost Alfie-like, in the sense that he was a puck magnet, every pass would be crisp, tape-to-tape, he'd play complete 200ft game and rarely make a mistake... Oh and yes, he was absolutely magic offensively.
This season, his decision making is slow, plays are dying on his stick, pucks are turned over, battles are lost along the board, the automatic offensive touch is gone, etc.
I completely disagree with you about the fact that his passing has been sharp. However, we're in agreement with regards to his PK and faceoffs play, which are still excellent.