I actually think Cruise improved with age, didn't like his earlier films (Risky Business, Top Gun, etc.) He has a bit more range than given credit for, but then I think a lot of "great" actors basically play themselves nowadays (De Niro, Depp, Pacino, etc.). Hell, I love John Wayne, but the guy played the same character for decades.
Sure, recent Cruise films have been less than stellar at the box office, but all have made boat loads of money overseas, where Cruise is still an enormous star. I thought Edge of Tomorrow and Obilvion were good movies, I enjoyed them. I'm a fan of Lee Child's books, but I thought Jack Reacher was a decent action movie.
One thing about Cruise; he may have been bat shit crazy a decade ago in some media appearances, but he has remained pretty sane in the past 10 years. He has kept politics out of his public image, and by all accounts is one the hardest working "stars" on set, working well with cast and crew. The guy makes shitloads of movies nowadays, and perhaps he knows the clock is ticking.
"I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965