No, that's the point. The shitfest of Water 7 and Enies Lobby was TWO AND A HALF FUCKING YEARS.
If it'd been a few months of a slump, it might not have been quite so bad, but a two year slump can be pretty crippling to a fanbase. And nothing turned people off worse than Enies fucking Lobby. First of all, the bad guys were all furfags. Which also wouldn't have been so bad, except that beyond being furries they had no real abilities except generic lol-dragonball superspeed ninja bullshit and being able to kill you by poking you. Also, all the characters got lame "bankai" powerups like Sanji's burning leg, Zoro's three headed demon thing, and Luffy's gear second. Fuck yes, you are EVERY SHONEN EVER!
Water 7 was okay, and the stuff about Franky's and Robin's past was cool and par excellence for One Piece. But Enies Lobby was just ugh... The only good things to come out of those arcs were the introduction of Franky (and the square sisters, strangely arousing), Robin and Franky's flashbacks, and Usopp drama
. And you'll notice, all of those things except one were in Water Seven. Water Seven was an okay arc. But Enies Lobby was ten times as long as it had ANY FUCKING BUSINESS being.