He seems to have gotten a lot worse lately, obviously he's always been a jackass and narcissistic. But up until recently most of his business decisions have been mostly rational. From the accounts I've read he has gotten rid of most of if not all of his competent advisors and has been doing a lot more drugs. I think what we are seeing here is an extended manic state, brought on by a lack of stability/stress, some underlying psychological issues, and a whole bunch of drugs.
Oh and just in case people think I'm defending him. I hate that fucker. I just think it is much more complicated than simple incompetency.