That may be too simple, even if possibly correct in its fundamental elements.
Unless they approach football as essentially a chaos field where anything can and will happen and it's no use trying to predict it, they have to assume a trajectory of some sort. It's clear that they would hugely prefer the current regime to work out. But surely they cannot expect it to simply because they want it to.
We don't know what the actual situation is, of course. Best case, there is serious work taking place to secure a preferred successor, with OGS kept in place to minimise the scrutiny, which will be ferocious the second his sacking is announced. If that involves luring away a top and already employed name that's a delicate situation that needs discretion, or it can derail very badly (as with Emery and Newcastle). Worst case, they're working on a gut feeling basis, with the gut feeling coming from how invested they've been in the OGS project rather than from what is being seen on the pitch, reinforced by a breezy sense of reassurance from the several times OGS has turned around crises before.
But returning to the trajectory, I don't understand how anyone can look at this and still think "there's a realistic chance this can be turned around" (not that I think that's what you're arguing, but assuming that decisions at this club does in some form or shape involve making a judgment on that). For one thing, we're not merely stuck but have regressed to a level where we're not a functioning team, in any aspect of the game. For another, the issues have been there pretty much all season, and have been getting steadily worse. And I sure hope they're taking a closer look at the outcome of the fightback after the Liverpool game, and not just thinking "Oh, win, draw, loss, that's not too bad".
Then there's what to take from the post-Liverpool fightback. They've done the thing - post-match team huddle, working out a plan the team buys into, spending a week on the training field working on it and then going out to more or less eviscerate Tottenham. But it's obvious from the two subsequent games that was not turning a corner, and the concept they put in place isn't going to see us through. It's two games now where we started with that setup only to have to abandon it mid-game after going two down. In the first case there was a fightback of sorts, in the second there was not even the shadow of one. In short, the post-Liverpool response has whimpered and died. Where can they possibly go from here?