A combination of things...
1. His stickhandling act is getting scouted much easier by other teams. Last season, he could skate around the zone a few times before dishing it off. Now, teams just let him do it and everyone else is covered.
2. When he DOES have someone on him, it's often a double team and he loses the puck.
3. Since his injury in OS a few weeks back, his overall approach seems different, like he's not as engaged along the boards.
Last season, he and Will Cuylle had really good chemistry. They could find each other without issue; Foudy dished it off, Cuylle finished. Now, that's virtually gone, though they don't play as often together. Part of me kind of wishes they went back to that, then throw someone like Afanasyev on the wing (or even Angle) and give Foudy two guys to dish off to.
That said, there are many people noticing Foudy's play and it's starting to get frustrating.