I'm glad XII is floating a lot of people's boats, but I don't really understand this "Square had lost the magic touch" thing :( Out of 12 games there's probably going to be ones that you don't like. Some people like them all, but that's rare. Just because you didn't like one doesn't say anything about the series or Square or their magical touchy, and it doesn't really make a statement of the quality of the next title at all.
VI and VII are quite different, as are VIII and IX, X and XI are nothing alike and XII is another rather new thing. There really is no Square-Enix or Final Fantasy magic touch, the teams working on the games are too inconsistent for one title to speak for the future of the series.