What you think about Nike stock?

I have a general biased view towards Nike. A few things below makes me think the stock price might suffer over the next 2-3 years.

1. The competition (On, Hoka, Lulu, etc) are taking market shares like it's free pizza.

2.They over indexed on their own online sales vs wholesale. And made some of the relationships with key retail partners weird. Seeing news articles about big box sports retailer criticizing Nikes approach over the past 1-2 years. Even tho Nike is trying to fix that now, but it doesn't seem that's going to increase revenue much in the short/mid term.

1. Lack of innovation is probably the biggest problem. The most recent Pegasus 41 release seems to be a disappointment to some.

The brand is still selling a fuk ton of stuff. But I'm seeing an incoming decline of their business and sales over the next few years. However, based on their recent layoff news, I am speculating there will be a share buyback around the earnings call which might push the price up a bit. Curious if any of you have any thoughts and advice on Nike stock. Buy or short this stock?