He's good. He's just way too in love with his arm. I see him do shit all the time that he just doesn't need to, or flat out shouldn't.
How many times have you seen Luck bomb the ball 40 yards to the end zone to a receiver who is covered, or double covered? Not just in desperate situations or coming from behind late. 2nd or 3rd and medium in close games. He does it all the time. Luck's problem isn't that he's in a situation where he has to do it all himself. No QB is really.
It's that he thinks he has to do it all himself, or even wants to. That's what I see when he plays.