Masvidal is a tough gritty fighter. He has a varied stand up attack and surprisingly good striking defense. He also has excellent TD defense and defensive grappling/submission defense. To have fought 48 times over 17 years at the level he has and only been finished 3 times is pretty rare. He has not been finished in 12 years. Of his 10 decision losses, 5 were by split decision. So to think anyone is just going to easily finish Mas is a little nonsensical.
Having said that, it's also pretty clear he gets neutralized when he is fighting well rounded fighters at the very top of the heap. He fights top guys, but often not THE top guys, because he has lost pretty consistently throughout his career, keeping him away from those fights. For a guy as relevant as he is right now, he has fought only 1 of the current top 5 fighters at WW or LW, Maia, losing a close fight. 0-1 against former champs and maybe 2-4 against fighters that have fought in title shots.
Great fighter, but I would not expect him to beat Khabib, Fergie, Poirer, Usman or Colby. Maybe Woodley on the grounds that he is long in the tooth, though Mas is no spring chicken himself.
Good on him for making the most of his 15 minutes. And even after Usman beats him, he will still have a couple of lucrative high profile fights ahead of him.