He loves to dribble and dribble and dribble and then dribble some more. AAU ball has basically left him no grasp or comprehension of team basketball or fundamentals, and he probably wouldn't understand what's wrong with that if you tried to explain it to him.
His biggest problem for the short and possibly long term is that he has no NBA position. He's a 6-3 SG with absolutely no PG skills whatsoever. That will limit his potential to contribute minutes initially unless he ends up on a horrible team. In the long term, though, he might not have the instincts or mentality to even become sufficient in this area. When he does try, his passing skills are average to below average. He forces the issue constantly, freezing out his teammates and showing absolutely no interest in getting anyone else involved. Although he is very young, his basketball IQ appears to be limited at this point, running into brick walls time after time while his teammates wave their hands and shake their heads in disgust. He does not appear to be interested in making an assist unless it's of the Sportscenter top 10 variety. He will often bring the ball up the court and immediately jack up a shot, before even looking in the direction of his teammates. The concept of running set plays is completely foreign to him, not being capable of doing anything in a half-court offense at this point except create his own shot off the dribble or drive and dish after drawing a crowd. He looks disinterested in what's happening around him unless the ball is in his hands, as his off the ball movement is extremely poor.
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Although most scouts I've talked to about high school basketball prospects don't really seem to care about this, his defense is horrendous. Ellis puts absolutely no effort into playing on this side of the ball, and just doesn't seem to understand the importance of stopping his man. He gambles on steals (he can be very quick to get out in the passing lanes), gets lost on rotations, gives up on plays completely once he gets beat, gets torched on the perimeter in man to man defense and refuses to rotate or play any type of off the ball defense.
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His intangibles are also somewhat questionable. Ellis has consistently shown a poor attitude and immaturity, pouting when things don't go his way or when the ball isn't in his hands for more than 5 seconds. He refused to shake anyone's hand at the end of the McDonalds game, because he was mad at his coach for not giving him more minutes at the PG spot (see links). His body language on the court looks very poor at times, while his quotes in the media make him look like an extremely cocky and arrogant young man. If he's already so full of himself at this point, when basically no one outside of NBA draft circles and Mississippi State fans knows his name, what's he going to be like in 5 years?