More or less.
Like you, I never bothered with After Earth; I got the feeling Shyamalan was just Will Smith's gun-for-hire.
Unlike you, I never watched The Last Airbender series. I found the film adaptation to be intermittently interesting, but somewhat slack in its narrative tension.
Lady in The Water was engaging in its low-key approach, and I remember being struck by certain images (e.g. the demonic dog). I also remember feeling somewhat ambiguous towards the resolution of the film, and I've actually wanted to revisit the movie to see how I like it a second time.
The Happening is the closest thing I've seen to a complete disaster. And yet, the film's last reel (i.e. the old woman in the house) ranks among Shyamalan's best work in what is arguably his worst film.
On a more positive note, you can call The Sixth Sense, Unbreakable, Signs and The Village modern masterpieces, and I won't bat an eyelid.
I don't know what's going on behind the scenes of Shyamalan's films, but I've heard a lot of reports and rumours about studio meddling and the like. Hopefully, The Visit will prove that to be true, and maybe we can get another big budget Shyamalan blockbuster that actually delivers on all the promise he has as one of Hollywood's best talents.