Alan Hardy earned his million(s) rather than winning them, which suggests that he's far from incompetent. Relatively inexperienced as a football club owner and chairman yes, but like any job, you have to learn as you go along, often through your mistakes. Not to mention the fact that picking good managers is a skill that still eludes many of the most experienced club chairmen in the game. In fact, it might simply be a game of chance.
Hurst not coming just shows me that we can't attract the type of manager we need. This doesn't surprise me, as the club now has a reputation for being a poorly run joke. We can no longer rely on our nice stadium and heritage to attract decent candidates. So we'll have to make do with managers who aren't good enough for other teams in our division.