My opinion:
Shez is the blame for tinkering with a winning, division topping squad, and getting in very average and very old loanees with bigger attitudes than the team in some cases, that's where I think the the problems started. I don't blame the players, they haven't created the obviously bad vibe around the changing squad, management mistakes caused that.
That said, I dont think he should have been sacked and think he should have been given till the end of the season at least. At that point if he hadnt made the playoffs then sack him, if he had but didnt go up take a view of all possibilities at that point. I think the same for Hughes, whatever anyone says, he's still scored a lot of goals and has a lot of experience and class above a lot of those around him, I'd rather he have stayed till the end of the season as the teams we are playing arent pooing themselves at all about what we have to challenge them with as it stands now, hence why we are no longer in contention in my opinion.
Now Shez has left I think we should see how Joe has shaken things up by/over summer IF he does stay on for a bit and then give him at least a season, who knows what is going to happen as far as money in/out of the club this summer and possible players in out at this stage, the last thing we need is a new managere every few months.
All I know is that this is a pretty bad run that's putting a lot of fans off, hopefully Joe will have a big shake up before the end of the season and we can start next year with a clear head and sense of direction with a decent core squad of players.
...oh and come on Paul Scholes, do us a favour.