Only if you assume he is a pure attacking player. As a central midfielder he is very good, good enough to play for the Selecao even. His best performances were as a mezzala his first half-season with the club. Once Marco "troppo Brasiliano" Giampaolo showed up, it fucked with his confidence and what we've learned about him is that he's a confidence-based player.
With Ibra here it kind of changes the dynamic, as he becomes a focal point of attack and it hinders other players around him. Everyone becomes a satellite of Ibra. As you mentioned, because Paqy's not necessarily a playmaker nor a goalscorer he gets relegated. It will be a shame to see such a talented player go.