A few points:
One — McCain is a very bad public speaker.
Two — it’s interesting that he’s shifted his aesthetic from his old black and white “fascist” aesthetic to a new green and white Islamofascist aesthetic.
Three — despite the general badness of his speaking manner, McCain does have highs and lows. You can tell that he gets excited, personally, when talking in a generic way about how America is awesome. But when he waxes about reforming government institutions, it’s obvious that McCain is bored and not at all the kind of person who’s inclined to immerse himself in the details of these kind of issues.
Four — even McCain’s audience doesn’t seem to like this speech.