He lost his intensity and is a shell of his former self. Is it because of his age or he just lost his desire, idk but he doesn't bring anything to the announcing desk atm. The thing is he has a long history with Vince and will probably have the job as long as he wants. I heard he makes like a quarter of a million per year and doesn't do anything but call Raw's and PPV's, and in meantime wrestles on the indies.
Cole is great. Anyone who says anything bad about Cole either:
A. Too young to have experienced his work back on Smackdown
B. Never watched Smackdown back then for whatever reason
C. Can't understand the type of character he is now playing.
Often people criticise him for no selling or whatever. When Cole played the face announcer on Smackdown he did a fantastic job and sold events amazingly well. He sold the shit out of a monster heel giving a face the beatdown at times. Now however he is heel, it makes no sense to react like that. He is either taking the piss, being sarcastic or silent if something dramatic happens because over selling would make him more of a face. Cole is and always has been a great commentator. Lawler is the root of the problem. This guy is straight up HORRIBLE.