Yeah. I'm not totally sure.

The pros:

Knows the club
Good rapport with fans
Won't have to pay a fee to a club as he's currently out of work
Entertaing football
Loves the club
Players will step up for him

The cons:
Is going 'backwards' progression?
Too many mistakes with his style (pens red cards etc)
Teams in L2 will just press us
Got found out a bit in L2

It's 50/50 for me. I wouldn't be annoyed but also wouldn't be delighted.