Obama isn't the president of Iraq. That's there problem. I certainly wouldn't consider Iraq an important ally of the US, and we have little economic interest in them. I'm a libertarian, I don't believe that we should intervene in the affairs of others, unless it effects us. The only military interest that we have in Iraq is to contain ISIS, which we have done.
I don't know anything about Iran, Saudi Arabia or Israel, but his strategy is to contain ISIS with airstrikes and by helping to train the Iraqi army, with minimal loss of life on the part of the American Military. If you would pay attention to the news, you would have known this.
If you were POTUS, what would you do? Send a zillion US troops at the expense of US taxpayers to defend worthless Iraqis who won't fight for themselves? And what would our troops do, stand in the middle of the desert and wait for someone to shoot at them? We can't tell the difference between the native population and ISIS (some of who ARE part of the native population). I think that's the job of Iraqi soldiers, not our soldiers. Regardless, ISIS is clearly losing, and without the loss of American Soldiers life or limb. That's a success.