They're at that point where it feels that no matter what they do, they won't get back on track.
I look at their squad, their management, their administration, and see nothing but a complete shit show. It's hard to know where to start and you can't feasibly clean them all out at the same time.
If they're to get back to challenging they need a highly planned, multi-staged approach with people of considerable vision and ability at the helm. Luckily for us their manager is a glorified subtitute teacher, their CEO knows nothing about football, they have no DoF, and their pig headed owners care about one thing and one thing only - to bleed them dry.