Over. The competition around him has declined, and the only thing that could stop him is parenthood.
No, it's the competition around Fedal that has declined because of their easy draws like last Wimb and USO.
No way Djokovic lucks into an easy draw at AO 2015 or USO because sponsors, TV and tournaments need Federer or Nadal badly in the slam finals.
So, Djokovic will again get Wawrinka in his half at AO, not Federer, then Nishikori&Murray from seeds 4-8 and Cilic&Dimitrov from 9-12 + Monfils, Gulbis and other solid HC players in his half.
Whoever gets through to the finals from Djokovic's half will certainly not be as fresh as daisy for the finals against the winner of Fedal, Raonic, Berdych, Ferrer half.