Between the Cali and now the Vegas runs, I feel like the band is well on their way to getting back to normal. The Cali shows were the first where the shows felt cohesive from start to finish and didn't just have flashes of greatness.
As for the Vegas shows, I've been all 4 of the Phish Vegas afters and I said before those shows that these will likely be the best they've done. I felt way for a few reasons: the Cali shows sounded great, they'd already be on the west coach and adjusted to the time, and the Vegas shows have never been a high bar for measuring this band (Barber was drunk for many of them), but were always a good time. Not only did the sell out Friday (first time they've done that) but they exceeded my expectations. The shows were great, the segues were smooth, the tempo was high, and the fan base reaction has been primarily positive.
I was nervous after the Miami and JamCruise shows, but I generally don't grade this band off vacation shows which Miami and JamCruise are exactly that. I think they have finally gotten it together, and as a fan, that's exciting. Does it mean 3.0 is the best ever or anything, absolutely not, but 2.0 had plenty of down moments through its history. The band seems to be enjoying themselves, so maybe the future is bright, or at minimum, this band is still a good time and worth seeing.