When Waxy first started in the league, he was insanely athletic but had a low bball IQ.
Over time, the smarts increased steadily each season while the athleticism slowly declined. But the smarts and skills were increasing at a faster rate than the athleticism was declining, so he was improving as a player. In his best season he was a legit starter.
I haven't seen him in action lately. But given his athleticism was so freakish at the start, even at 33 he might still be well above the average NBL player as a pure athlete. After a year training with Perth, he should know the system and maybe the system suits him. That can happen. If so, good for him and he might be a real impact player again this year.