The real test will be his next fight.
He fought 40+ shamrock, end of prime. He fought 40+ Couture, mid-end of his prime and lost. He fought approaching 40 Liddell and lost, twice. (though the first time he was probably 34 or so.)
How is he going to fare with the under 30 year olds Hybrids of the new sport? I really think Tito would lose to anybody who is either A. a good striker with decent takedown defense, or B. a great wrestler, submission fighter. That pretty much means anybody other than somebody who is garbage.
His next fight would probably be Babalu since he talked Smack about BABALU being a B level fighter, while Babalu is still ranked by most sites higher than Ortiz was. We'll see how he does from now.
The biggest thing everyone is missing is Ortiz has not had a real career as of late. It's going to be four years from now or so before you can decide if he's great or not. One Griffin "Controversial" Win, Two Shamrock Wins, and a Liddell loss are hardly a breakthrough comeback to the UFC from a "great fighter."