So British creativity isn't what it was? Well, it is in the eyes of the world, which reckons that six of this year's ten best commercials came from the UK.
So US creative firepower is blasting the Brits out of the water? Not so. The Gunn Report finds the gap between the best of British and the best of American is narrower than it has been in years.
The report's findings will provide UK agencies with a powerful weapon in their battles with clients - who have become used to paying less while demanding more - and with procurement specialists, who view creativity as a commodity much like any other.
The most enlightened clients hire agencies to provide them with the creative potency they lack. An agency that cannot deliver has no reason to exist.
Isn't it curious that while British adfolk have been beating themselves up, the rest of the world is applauding them?