In my opinion, of course. They haven't released (or even announced) a project nearly as ambitious as Half Life 2 was when it was first unveiled, and their other releases have lacked polish and AAA quality. Left 4 Dead was very low on content and lacked the production value that we expect from most games nowadays, then there was Left 4 Dead 2 which seemed like a Madden-style update rather than a proper sequel.
Add all that to the fiasco of their apparent inability to comprehend the workings of the PS3 and to me at least, it seems like Valve haven't had the best run this gen.
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