I dont think you have anything to worry about. Baby birds' first feathers are thinner, duller, more fragile, and less water resistant than adult plumage. Your baby's baby feathers are just worn and the grey you see is the broken, worn outer feathers and down layer under the feathers. They go through their first molt at about six months old. His big bird feathers should start coming in soon and in a few months he will look bright and shiny new again.
In the meantime, make sure Richo gets a good balanced diet with plenty of protein. It takes a lot of protein to grow new feathers. Hard boiled or plain scrambled egg a couple times a week would be great.
I may be off on the number of months because I'm estimating it based on my observations breeding budgies and watching them grow up. Budgies go through their first molt at about four months. I added a couple months for an Alexandrine.