The First Moribundity was the period in the 1990s when Apple was coasting on the DTP and Photoshop advantage over Windows they had, reducing the features of their desktops and not innovating. Schindler, a smart but ineffective leader, was replaced by Gil Amelio, a star in his prior field but unable to get Apple headed in the right direction. It took Jobs' return to right the ship that time.
The emphasis on thin but less functional and less serviceable laptops, the dropping of OpenGL, the cruft piling on top of OS X to no new net benefit for users, and their coasting on the desktop market all point to this IMHO.