It IS a results business, but I simply think it's wrong to say that none of the issues and factors that have contributed are any excuse. You don't go from good results to poor, overnight, because the man in charge has suddenly become a "bad" manager.
In any case, I'd love to see the statistics for how often a change of manager has an immediate positive impact (apart from the kind of three-match bounce we saw with Lambert).

Probable leavers?
Leutwiler, Downing, Smallwood, Evans, Reed, Gladwin.
Possible leavers?
Mulgrew, Rodwell, Williams, Hart, Bell, Conway, Samuel, Nuttall.
Fringe possibilities?
Dack.

I have seen calls for ALL of these to be released - in Dack's case, mainly for the money - and some people have thrown Nyambe in too!
In the unlikely event of all 15 departing, what would we be left with - to begin with, from the current 1st Team Squad?
GK: Raya, Fisher
RB: Nyambe
LB: NIL
CB: Lenihan, Wharton
RM: Bennett
DM: Travis, Davenport
ACM: Rothwell
LM: NIL
RW: Chapman
LW: NIL
No. 10: Armstrong, Brereton
CF: Graham.

From the Under-23s, we can say that the following are the ones most seriously in contention:
Magloire, Grayson, Platt (all centre-backs)
Buckley, Rankin-Costello (midfield)
Butterworth (forward).

That produces a first-team squad of 19, including eight who would still qualify as U-23s!
Can we really afford to throw away all that experience? More to the point, would Venky's fund enough experienced, good-quality replacements?!
I think we just need to be cautious and sensible. Players like Bell, Samuel, Rodwell, Hart and even Gladwin could still come good. In addition, the decline we have seen in Mulgrew and Williams might not be permanent.
In other words, I don't believe we should go in for panic-buying. I'd love to think that Joe Nuttall could step up to the Graham plate, but I'm dubious, so we really need to invest there. A Scott Dann-style centre-back is essential. As for the left-back position, I just don't know. Perhaps either Hart or Thompson might come through, if Bell and Williams continue to prove not good enough.
Then there's the other big one. Is Rothwell good enough to become our playmaker from a central midfield role? If not, are Venky's willing to fork out the 5M+ we would need to get a player of the right quality? Given the uncertainty generated by the Brereton purchase, I think that will only happen if we sell Dack.