IMO He's not lost, he just doesn't make the est music any more. There's a couple of cats better than him like ASAP, Drake, Cole, Nas, Kendrick and Yeezus. Never in history has that many cats been better than Hov at any given time. He can still kill a verse, drop a classic joint but overall he's not top 5 anymore which he was every year between 96 and 2011ish.
Yet he completely offed Nas (who had te 2nd best album of 2012) on his latest album, completely destroyed Drake (who might have the best album of 2014 after Kanye and top 3 of the new generation), murked Kendrick (best new rapper) so he had to go and record another verse and get completely off topic to have the best verse, offed J. Cole (another top 3), offed Big Sean (another top rapper according to people).
Getting outhined by Nicki and then having the best verse on the very same album, which also happens to be best album of 2010. Should indicate that your analogy is worthless. Haters are gonna do what haters are gonna do though.