Performance itself isn't necessarily weak because other major crypto suffer the same fate, failed to breakthrough and surpass previous cycle all time high.
My honest take is, this is normal. Instead, I'm more bullish about Ethereum than ever because Vitalik's latest development proposal is very solid and has been on point, from consolidating liquidity from layer 2 and to bake in privacy directly into Ethereum.
Price performance is a common issue across the altcoin market in this cycle, not just for ETH alone.
However, I think the opposite. Although Vitalik is the heart and soul of Eth, the departure of many senior members and core developers is an alarming sign that should not be taken lightly. Because ETH is not a small network, and no matter how skilled Vitalik is. He alone will not be able to sustain, develop, and solve all the problems of the entire ecosystem in the long term.
Personally, I would avoid investing in ETH at this stage.