Consider the different narrative styles within the story, and the glee with which the "moralistic narrator" celebrates Aschenbach's fall - maybe, then, this is a hostile verdict and the international fame is warranted after all (given that Mann modeled his protagonist so closely on himself, it would be quite odd if he had intended Aschenbach's literary inferiority to be a fixed part of the interpretation).
To my mind, Death in Venice represents an enormous advance in Mann's literary development, not simply for the commonly appreciated reason that he crafted a superbly supple and elegant style, apparently well suited to the kind of prose Aschenbach is supposed to write.