It seems they have arrested some of the decline since Jony Ive left. The newest MacBook Pro has gone back to a formula that works well with processors that blow away the competition. Things are less rosy on the software side though.
They also poached the head architect from Arm. Now that M1/M1 Pro/Max are out I think a lot of top engineers have seen their project to completion and are moving on to new interesting things. No amount of money is going to bring them back but you can be sure they'll be back in 3-4 years if Apple has a compelling project (like say, their AR/VR headset).
