They're a well coached and solid enough team but limited compared to many of the past top ranked teams. They'd be clearly behind the 2009 Springbok team.
The fact is they've had two tight games the past two weeks, at home, vs an All Blacks team that doesn't have a single player I'd consider a starter in an All Blacks professional era team. Very few would even be in consideration for the bench. Two close wins even ignoring some interesting refereeing. If they were worthy of some lofty ranking they'd be putting that team away far more easily.
Aside from the lack of talent and some players clearly past their past, it's hard to overstate how bad some of the tactics from the All Blacks have been-especially late in the game with the ridiculous kicking. Add in poor discipline. So far this year they've eked out wins at home vs England then lost at home to Argentina. The 2005-2006 All Black team as an example would thrash the current one, plain and simple. Beating them narrowly twice at home is no huge achievement.