Movistar are just performing to their level. They've never been one of the big budget teams, and have simply had more prominence than their budget would suggest for many years because of having a couple of big-ticket leaders and getting a larger amount of prominence in screen time due to racing like absolute headless chickens for said leaders.
Their racing just reflects the riders at their disposal. They were once the team of Valverde, Quintana and Landa simultaneously. They attacked descents, climbs, did unexpected things, started the Soler memes. Now they're the team of Enric Mas.