Any artist with a career as long and productive as Elton's will have the occasional song or two that doesn't hit the spot.
I quite like his new song, as much as i have liked anything sincce his early material, but like everyone, musicians evolve and change, their attitudes, their work rate and their standards rise and fall. This may just be a bit of a 'filler' written on an average day. Just let it pass, and wait for the next one.
It may be 'average' by Elton's standards, but Pete Doherty would kill to be that able!