Have you watched the EDS?
Managing a group of highly-talented kids is a lot different to managing a Premier League club, it's not exactly the best way of judging whether he'd make a good manager. He could be winning every game 5-0 and be an awful first team manager or he could be losing every game 5-0 and develop into a successful first team manager.
You answered your own question, first proper manager role in a poorly funded club which has fans with unrealistic expectations.
True. Don't get me wrong, Newcastle would be much better off appointing someone like Laudrup, but I think it's a little harsh to instantly dismiss his potential job there as one that would be a disaster.