Former England and Russia manager Capello is happy to step aside from coaching to instead continue in his role as a pundit, however, having been sacked by Chinese club Jiangsu Suning at the end of last month.
"I've already had my experiences with England and Russia," he told Radio Anch'io Sport. "My experience with Jiangsu Suning was my last, I kept them up and therefore I'm very happy.
"Now I enjoy being a pundit. You always win with this job! Is Mancini the right choice? Right now, we're lacking leaders and players who make the difference.
"Mancini has experience and this will help him in time, but our national team lack talent. There are some players who are doing well in Serie A but badly for the national team, so experimentation is needed."
Capello had more success managing at club level, winning four Serie A titles and the Champions League in his first five seasons with AC Milan, before enjoying spells with Real Madrid, Roma and Juventus.