To me - that's just a weak take. When Cooper was getting molly whopped annually by Michigan, do you tell the fans, "Guys, we can't change anything so just shrug your shoulders and hope they bounce back next year"? Clearly the answer to that was no. The fanbase decided not to accept those results, the customer base influences the decision makers, and a change was made.
Obviously, that can be done also in basketball and clearly is currently trending in the same direction. It is at the point that not just the local, but the national take (outside of Jeff Goddman), is that Holtmann is near the end of his rope. Does that mean after this year, next year, who knows, but thinking the fan bases support doesn't in some way influence the stability of a coaches situation is untrue.
The longer you let a program slide in reverse, the harder it is to get it back to where it belongs, and like you yourself said, this is easily a Top 25 job and we are nowhere near Top 25 results.