Bruce Riedel highlights al Qaeda's Egyptian irrelevance:

Bin Laden and Zawahiri are still dangerous in their Pakistani lairs, still capable of terror, and a very serious threat to the Pakistani state along with their allies in the Pakistani Taliban and Lashkar-e-Taiba. They are much better prepared to exploit unrest in Yemen than they were in Egypt if a revolution starts in the Arabian Peninsula’s poorest country. But their narrative has suffered a serious blow in the heart of the Arab and Muslim worlds. They promised that only jihad would bring change. History has showed them wrong.