His usefulness is all about his quick distribution and passing but it looks like this has been sussed a bit now so not as effective. He has never been a great shot stopper for me but it seems like that’s not the main requirement of a keeper nowadays.
Keepers aren’t supposed to save penalties, it’s heavily weighted towards the attacker for a reason. We don’t suffer sustained pressure in games so he rarely has anything to do and when he does have something to do we’re usually badly exposed and the attacker is under no pressure at all and can pick his spot. That’s why he doesn’t make many saves. Ederson is a top class goalkeeper and a world class Pep goalkeeper, there’s zero problem with him.