They really do. They're still very strong, of course - they're fecking Real Madrid - but they've lost that unstoppable quality that they had last season. Kroos is not passing any better than Alonso was last season, but he also offers less defensively which is limiting Modric a little. And no-one in their right mind could claim that James is playing as well as Di Maria did for them last season. Di Maria fitted in along with both Bale and Ronaldo, whereas James doesn't.
(I know the Mighty Liverpool lost to them twice this season Barney, but I'm afraid that hardly means much at the moment.)