The inconsistency of the team is concerning but (giving him the benefit of the doubt a bit), we had no real pre season and a lot of games. If we blame Ole (rightly, along with the players) for games like Istanbul, we have to give him some praise for PSG, Leipzig.
We're in a rough CL group and likely to come through. We're 7 games into the PL season. He's moved some players out that most fans wanted out. His buys have been mixed. He's brought Brandon and Greenwood into the squad properly and Tuanzebe post injury (other managers wouldn't have?). The play (when it works) is good to watch.
He possibly has a blind spot on a couple of players. His coaching....? none of us really know as we don't see it.
For me, on balance, there's enough to earn the rest of this season unless we get knocked out of this CL group and don't pick up in league. A CL last 8 and/or top.4 and/or a cup trophy would probably see him into next season.