I'd say a combo of the above. In his prime, he was one of the best in history with tremendous speed, punching power and great ring generalship. It's very sad now to see one of the greats of all time continue when his skills are just gone. I just hope he quits, which he should have done a couple of years ago, before he really gets hurt.
The people he's lost to recently couldn't carry his socks in his prime.

Not that I want to see the guy get hurt or anything, but earlier in his career he was a pompous asshole. I would enjoy seeing him get his ass kicked a few more times.

I think he is probably broke. Too bad. After making millions, I don't feel bad if he has to get a job to support himself.