They definitely seemed to become less ambitious, and settled into their own little thing, but the albums after were still pretty good. You In Reverse is really cool, and the new one is a lot of fun.
I'd argue for Wind and Wuthering, honestly
I can also agree with OP
Only the ProjeKCts did some good stuff. The Fripp/Gunn/Mastoletto one is the best, but any actual King Crimson died with Red, and carried only the uniqueness to Indiscipline
Those are great albums, but to me, they don't represent King Crimson imo.
They are good, but not necessarily good KC albums. It seems just like Belew albums, instead of King Crimson.
I don't think anything KC can compare to the final 3 ish minutes of Starless, or the crazy improv of Starless and Bible Black