Khumalo, who is in Rabat as a CAF ambassador, watched Bafana’s 2-1 loss to Cameroon as they exited the tournament on Sunday.
The 1996 AFCON-winning former midfielder says the Bafana team that played in the 2023 continental showpiece was more convincing than the one in Morocco.
"It's going to be difficult because we're talking about a two-faced South Africa – the edition in Ivory Coast was not the same as here in Morocco," said Khumalo.
"In Ivory Coast we were dominated by [Mamelodi] Sundowns players, with 80% of them, whereas here there's mostly [Orlando] Pirates and Sundowns players, so it's not the same.
"And the fluidity of the game compared to that one is not the same, hence I was saying that when we played AFCON and the World Cup qualifiers, we were a monster, we unstoppable, but that changed."
Compared to the team that qualified for the World Cup, ‘16V’ noted the differences and believes something was lacking in this tournament as the AFCON team was not as fluid as before.
"I don't think 'what went wrong' is the correct words to use – I think it's more 'what is it that we didn't do right?' And I think, when you look at the team throughout the group stage and last 16, they were a different outfit from the AFCON and World Cup qualifiers," he added.
"They were buzzing in the AFCON qualifiers, with a lot of social factors like understanding, trust and belief among the players, and it wasn't only the games in South Africa because they got good result outside SA as well.
"But now looking at the players who played the opening match against Angola, when we scored a goal we tend to relax and think, 'No, we've wrapped it up,' but that was not the case because we allow opponents to come back and then we're under pressure.
"But, to answer your question, we had to dig deep to fight back because we never used to fight back – we used to beat teams convincingly.
"And I think that was the story that was missing, the social factors, understanding, trust and belief, and the confidence on the ball, not giving our opponents respect."