Yes, his decision making is sound, and comes with a huge weight of experience and understanding of how the world works. His ability to communicate effectively has diminished, but not his ability to assess facts and make effective determinations.
Isn't Biden pretty good at getting out of the way and letting experts make the decisions? That seems like a pretty valuable trait in a leader assuming the advisors are high quality and that you're not in a time of crisis and need a strong leader (e.g. war).