You can tell by the recent advertising blitz, survey's and commercials they are feeling the competition. While still a good oil, as it always will be being XOM's flagship product, the competition has become much better.
Back in 2002 when I first joined, the issue at the time was whether SuperSyn was better than Tri-Synthetic. It was proven to be that it was better. Then, with the internet and oil/auto forums growing in numbers, people started posting their UOA reports of various oils. It started as a small group of hardcore auto enthusiasts, then spread and became much more popular.
As time went on, people started noticing higher Fe in Mobil 1 reports. This then led to other complaints about higher noise and oil consumption. Some have attributed it to the alkylated napthalenes they now use in place of esters, among other things.
Mobil then stopped reporting NOACK volatility & pour point on their product data sheets, and commenting on whether Mobil 1 was truly a PAO/Ester based oil. This led to further rumors that Mobil 1 was no longer a full PAO based oil, disappointing the hardcore synthetic users. It was then proven that they were using a large slug of Grp III in their EP line, along with PAO/V base oils.
Ashland, a company that can run all ASTM tests and certify PCMO's, found Mobil 1 was NOT meeting the SEQ IVA wear test for a period of 2 years. A legitimate ASTM test based on tear down measurements and oil analysis that tracked Fe. This then followed a strong marketing blitz that further tarnished M1's reputation. These "series" of events have really led to the strong anti-M1 sentiment we see today. It's not as if people just randomly hate XOM because they are large.
Whether these issues are a problem are not is questionable. The only true indicator to judge quality by is specifications an oil meets. Noise, oil analysis and oil consumption are dependent upon a lot of variables. Mobil 1 has represented about 60% of the synthetic market, which is huge. So without any firm statistics, it could just be that due to there being more Mobil 1 users, we hear about these things more often.
My opinion is that M1 is still a great oil, but no longer the only great oil readily available. Shell, Ashland and Castrol all have great oils now.