Let's look at Renzo & Frank's past opponents in the last 7 years.
Renzo: Tamura, Sakuraba, Henderson, Ohara, Oyama, Newton(Twice), Penn, Miletich, and Frankie.
Frank: Elvis Sinosic, Bryan Pardoe, Cesar Gracie, and Renzo.
Renzo may not have the best record around, but he fights quality opponents.
Frank still touts himself as the greatest, and has only faced 2 quality opponents(Sinosic & Renzo) in the past 7 years.
I will say that Frank did look pretty good standing. Probably the best he has ever looked. Sadly, he couldn't defend a takedown to save his life, and let Renzo control him. That is not a good sign for someone who still thinks he's the greatest.