That is a cool one - The captaincy being not worth it! Well, you captain a side regardless of the calibre of your team, not coz it is a sure shot formula for success. If any all are star performers and can give you a sure win, why require a captain at all.
That said, even the most die hard fan of Sachin (me included,for his batting, though)will find it difficult to accept Sachin's performance as a Test Captain. Forget the records, which anyway are not flattering, even the team that got built up was nothing to write home about. No strength got built up during his leadership. He might have ideas to built a successful pace attack - The judgement of his captaincy though would lie on how he performed. And there, Sachin failed, as you point out, the pace battery hardly sparkled ! The performance yardstick has always been in delivery not in intentions !