Indeed, we can't place the entire blame on Raf. Dior has spent the last five years, perhaps even a bit longer, really floundering and not being relevant. Galliano's last collections for the house weren't exactly memorable hits.
Even though he's creative director, Raf has simply hopped aboard an already-moving train that has many different parts that he can't control or have jurisdiction over. We saw that plainly illustrated in the documentary "Dior and I." Even though he has a huge title, there are still systems in place that he has to adhere to and work around.
That being said, Raf hasn't exactly stepped up to the plate. It seems like he didn't quite process that he'd be making several collections a year for the next several years. He seems slightly lost, already running out of steam, and just not very inspired. Rather than breaking away and taking risks with something shocking or new, he's following the general current mood of fashion: sterile, clinical, low-key.
But I think that also speaks a lot to the times we live in, and what is required of these big conglomerates. Perhaps LVMH doesn't want someone to make a big splash or dramatically alter/reinvent the codes of the house. It's a huge international brand, and it has to move units and maintain a financial equilibrium. Now's not the time for a visionary shakeup. Maybe they just need someone to keep their head down, make sellable clothes that serve as decent backdrops to the moneymaking accessories, churn out some elegant red carpet custom pieces for their brand spokespersons and never cause too much of a commotion or a controversy.
I don't know what the future holds for Raf. Nobody does. I'd love for a real breakthrough triumphant moment for Raf at the house, but perhaps he'll spend the remainder of his tenure just biding his time. But Dior chose him, and we just have to accept that.