I've come to the conclusion that my advisor is incompetent (he does not have a good understanding of the fundamentals and doesn't know how to judge or generate research ideas). I mainly chose to work with him because he works in the research area I'm interested in. Having interacted with him for a couple of months now, I feel very confident that he doesn't deserve to be here and didn't earn his name on most of his publications. He was recently hired and I would be surprised if he got tenured.
Having said that, I actually think I'm strong enough to conduct research independently. However, I'm very worried of what could happen down the road. I want to get a faculty position and you get hired based on on many factors: the recommendations you receive and the reputation of your advisor are perhaps one of the most important. Isn't it just a disaster to have such an advisor, even if you have a good publication record?