No he isn't. Petrie may still be above average, but I would put him a full step behind the elite; and, as far as what was said earlier, he most certainly is not "The Man."
RC Buford can be The Man
Joe Dumars can be The Man
Kevin Pritchard can be The Man
Jeff Bower can be The Man
Even Bryan Colangelo can be The Man before Petrie these days.
Petrie is more than a full step behind those guys in terms of building and/or sustaining a winning team. And, with the exception of Dumars, they all have the same small-market handicap that Petrie. He may still be good, maybe even above average, but he ain't The Man no more.
I am a huge Petrie fan, but even I have to agree with the above, particularly, in the light of last few years.
That said, to a certain extent at least, luck can be blamed. We are all familiar with the multiple heart breaks we suffered. Had things worked slightly differently, we might have been discussing a totally different legacy right now. Also, the team probably wouldn't have imploded so quickly.
Compare our luck with say of Detroit (closest competition from the list above, since they were also built primarily with trades and low draft picks). We became elite, when Lakers were at their peak, suffered multiple injuries in different years and were always playing in the brutally tough West.
Detroit on the other hand, became elite when the best teams in the West were a notch below the dominating Lakers, enjoyed extraordinary luck in terms of health of main players, and had the luxury of playing in the East, where the path to conference finals, NBA finals was much easier. To top it all, they lucked into Rasheed Wallace, which suddenly turned them from a good team to an elite team. Of course Dumars gets credit for arranging a deal while keeping his core intact, but such one-sided deals usually happen only when the stars are very favourably aligned.
One year that they won the title, they faced a dysfunctional Lakers team with an injured Karl Malone. Again, the Lakers were still a formidable team that year, and I don't want to belittle their achievements. However, just as we wonder what could have happened had Chris not gone down against Mavs, one has to wonder if Detroit would have won so easily if Malone was fit.
Coming back to Geoff, I agree with nbrans post that the main problem is with his vision. He has shown an amazing reluctance to break up the team and rebuild. Instead of adding MLE level contracts each year, he should have tried to clean up the salaries and rebuild.