I feed had Ole left over the summer, the narrative around him would have been fairly positive. If a decent job came up then the questions would have been around his ability to win trophies but I'm sure he'd have got a job with one of the Glasgow teams to collect trophies or someone like Everton would have had him. He'd have gone on fairly positive terms having guided the team to a 2nd place finish and EL final, but he also couldn't really complain as he hadn't won anything.
The reality is, his luck has run out. Poor performances aren't new, just they're costing more points this year, and signing Ronaldo has brought an extra level of expectation and scrutiny, under which Ole has withered. I can't see any decent club being interested in him after this now.
I noticed he's barely had any time out of work since the start of his playing career. Several managers, including Pep and Moyes, have taken some time away from management in part to study the game, maybe some time away from the frontline of the game is what Ole needs now.