They've lost their uniqueness and "sparkle" and fast becoming just another airline. As someone said above, the product has become "bland". I think a lot of it is actually through arrogance from the senior management.
Whenever I see an interview, article, statement, quotation or what ever it may be from someone at easyJet, it's always about how great they are... how the share price has rocketed since 2010 (true although less so of late), how they offer excellent customer service (debatable), the strongest route network in Europe (they don't!), how the other LCCs are not seen as major competition because they are in a nut shell... not as strong as easyJet, and finally how they had a "robust" set of Half Year results (I thought they were... ok).
I can't recall many incidences where we hear about any weaknesses, elaboration on poor performance or areas they see further improvement or opportunities (sneakairs aside). You may think why would they publicize that... but actually when you look at many of the airlines now, they seem more open with what they're not so good at or need to improve on.