He's not playing the way that led him to become as efficient a scorer that has ever played the game (27 ppg at 57% FG and 65% TS just LAST SEASON). That James took very, very few bad shots during an entire season and mostly on bailouts.
He was one of the most productive post players last year, but doesn't want to play that game anymore (fear of back aggravation in the post perhaps?). He's taking bad shots, wasting time in possessions, is too quick to take the three pointer even though he's a drastically better shooter now, and is really careless with the ball. Why does he try to thread the needle all the time on passes? We have enough talent on offense so we don't need to take those chances. He's had at least 3-4 turnovers in every game this season. In a way, all the things he's learned over the last few years he's just thrown away.
A lot of it might be physical as he mysteriously, in one season, can't finish at the rim when he had one of the greatest seasons ever doing that just last year. But most of all, it's the lack of defense, lack of fire on court, lack of leadership by example, that strange "bored/wise sage/too good for this" face he's been making, pouting, and not trusting the staff or teammates all the while acting as the acting head coach that's most disturbing.
This team seems to only be as good as LeBron is which is natural when one player has a 30% usuage. We haven't won a game in which Bron played poorly and won most of them in which he played well.