Or is he? You be the judge.  Let's dive into the numbers.

In 2007, the New York Jets were 4-12 without Favre. In 2008, with a healthy Favre completing 71 percent of his passes through the first 11 games, the Jets doubled their doubled their win total from the previous year to 8-3 by upsetting the New England Patriots and undefeated Titans in Tennessee.

A healthy Favre threw 20 touchdown passes in 11 games and made the Jets a much better team.

An injured Favre threw nine interceptions and caused them them go 1-4 at the end of the season

In the 29 games before his arm and shoulder began hurting last season, Favre threw 23 more touchdown passes than interceptions (53-30) and led the Packers to an NFC title game.   The last two years Favre is 22-10.  If you take out the last 5 gams that he was hurt (Jets fans, blame your coach for not pulling him out of the game) the last two years he's 21-6.   Tom Brady the last two years (06 & 07), excluding the last 5 games of 2007 for comparison purposes was 23-4.
Does that sound like someone who's washed up?    Is Tom Brady washed up because he missed all of last year with an injury?