Those quarterly reports say the opposite. Cook is doing an amazing job and most definitely is not clueless. I believe Cook has a very good eye for the future.
He is an amazing operations guy, I'll give him that. But he's not a product guy, and he lacks a direction for the company. Right now he's executing a road map that was laid out for him a bit less than ten years ago. Apple has exactly one more new hardware category coming out after Homepod, plus a software framework that will unify everything, and then that map is done. He's not going to know what to do then, other than iterative products.
I will say it again - he has no sense of the future, none at all. He may enjoy seeing the company's products in peoples' hands as much as anyone could, but he has zero idea of what people want. Better, faster, stronger works for Steve Austin, but after the first couple of iterations, nothing distinguishes it from the Windows business of the late 90s.
The reason Apple is here today isn't just because of execution, its because of ideas. Well-honed, well-tempered, well-anticipated product ideas. The reason Steve Jobs succeeded as CEO was that he was able to look at the big picture, the entire computing world, cross-reference with peoples' needs, and figure out a single direction to take to come up with something that was so usable and solved so many problems with the simplest approach, that it would almost become necessary to own it.
I am getting increasingly accused of hagiography when I bring this stuff up now, especially by certain people on this forum, but that accusation doesn't blunt the truth. You have to execute, but you have to be able to see as well. Tim can do the former, but not the latter. I'm not one of the people who say "only Steve knew what was good for Apple". There are other people out in the world who have his vision, I'm sure. If Tim would get back to COO and bring in someone that can see down the road 5-10 years, accurately, someone who knows what people want before they can even conceive it, Apple will be solid for the next 20 years.
Right now, they're running on momentum and the end of an existing plan. Finishing that plan is going to blow the public mind, but it'll also give a road map for the competition as well once its made plain. Success can endanger a directionless company almost as much as failure endangers a company with direction.