Manchester United are not going through a good period, but let's say that calling them mediocre is not an insult but an observation
i am sorry, i remember the good times when they were the most feared team in Europe
they have a team worth 694 million euros but they are not performing as they should in the Premier League, i would ask myself two questions

It was Manchester United past history. Thy're nothing now. Look at the comparison between their past performances compared to the their performance in the modern football. There is a huge gap, yeah. United's 12 years total game lost is now higher than their lost when fergie was there for 26 years.
They looked so desperate to found the next fergie, but believe me, there will be no fergie's copy paste. They will never find someone who can suit them well like him in modern football. Not until they also changed their owner.
Calling them as a mediocre club is not only an observation, but it based on the reality showed on the table.
Just under 12 years they have successfully superceded the record set for a whole 26 years in a negative way. It's even less than half of the year that the set this kind of record. This shows how pretty bad the Manchester United team has really declined and it should really be worrying for this kind of decline. Sir Alex too has a part to play in the a bit, I could still remember when he was about retiring in 2013, he would have just left and allowed the board to take decisions but they entrusted the club to him that he influenced the appointment of David Moyes from Everton. We all knew that at that time that Moyes wasn't the coach for Manchester United standards at that time but Sir Alex made it happen and that was the end of the beginning of their downfall.