I think it's a decent move.
Hodgson was taking them nowhere, he was never the man for the job.
They probably have a long-term manager lined up, but who's not available until the Summer.
Interim manager, get in a fans favourite, he'll have to do tremendously badly to get them relegated (mid-table will now be their aim). The fans will still blame their shit season on Hodgson unless Dalglish does even worse (tough).
They ride out the season and come the Summer in comes new manager and they can start again properly.
Better than appointing their 4th choice manager that they don't really want on a multi-year deal mid-season.