All too often Yahoo seem to be guilty of 'me too' products and services. It seems very rare for Yahoo! to come up with something genuinely new or groundbreaking.
Having said that, it's extremely difficult to do something new and innovative. Google haven't yet done anything particularly innovative (someone else had done search, someone else had done their purchasing model and someone else had found a way to put textlinks on 3rd party sites).
I think the problem is that Yahoo have done very little to promote their new funky stuff. I think Yahoo answers is a good idea, but it doesn't position them as leaders.
Not sure what Yahoo represent as a brand. They're kind of similar to Sainsbury's - there's nothing they do extremely well, but you can have faith that whatever they do will be good enough...