Kanye is definitely not on the level or ever will be of 2Pac, the Notorious B.I.G. Eminem, and Jay-Z. His early life with a professor for a mother giving him a solid upper middle class upbringing precluded Kanye's chances of garnering the street credibility to write 5 albums about his time slanging dope on the streets. Rappers need street credibility for longevity, without it they lose the rebel image after 2 multi-platinum albums and become just another super star whose esoteric lyrics are hard to relate to unless you are a millionaire celebrity who has gone to drug rehab.
As for the original question, Kanye is a quite bright, but I would not go so far as genius.
Kanye West has been a jackass, but I do not believe he is a jackass. The immaturity has shown, which make some view him as a jackass.
