Honestly, the quality doesn't seem all that poor to me.
At least, it's mostly what I would expect when resizing a JPG image. If you zoom in you can see some of the compression artifacts.
You may wish to look at enabling Imagick processing of images (Attachment Options) to see if you can perceive any noticeable quality difference (or indeed switch back to GD if you're already using it).
Finally, you may wish to look at upgrading PHP and Imagick. I guess it's possible that some older versions may not handle the resampling quite as well as newer versions, but I'm not certain.
Other than that, this is basically what to expect when resizing JPG images.