I've historically liked him because of the "developers, developers, developers" thing, but over the last 5-10 years I think history has proven you right. He's a bad CEO who consistently makes bad decisions.
But "bad CEO"? Come on! If you look beyond the HN filter bubble, he has definitively diversified MS beyond its early Windows/Office shackles, increased revenues consistently and made (most of) the new divisions very profitable.
And if you think there's no "HN bubble", ask yourself why there's this huge front-page thread about MSFT tanking 10% but little talk about GOOG tanking 14%.