I thought it was a very balanced speech - not putting the country down, but a realistic assessment of where it now stands on the world stage. Far from returning to Great Power status, Britain post-Brexit has a greatly diminished status. The considerable influence in Europe has now been ended, and this will not be replaced by increased influence in Washington or anywhere else.
It struck me that Brexit really was the last gasp of Empire, and the sooner Brexit fantasies are realised to be what they are, the better. Not least the very real possibility of the break up of the United Kingdom, which I still think would be a pity.
I find a certain irony that the French as the other great European empire power have realised what the British just won't see, and have chosen a path maintaining French influence on the world stage via Europe.