I'd say we're all in violent agreement - Smith was part of the problem in terms of on field performance, and the squad is the other problem. However, Smith was also responsible for most of our squad being here, so our cruddy squad is also mainly down to his choices.
At least we've changed one variable - the coach. Now we can see the other problems more clearly. A small pack with very little punch, no punch at all in the backs to compensate, too many error-filled headless chickens across the board and no sign of any on field leadership. There really aren't many players in the whole first 17 I'd care about losing individually. Handley, Oledzki. Maybe Croft although he gets given a free ride too often for such a major signing. Pretty much every other player in the squad could be individually upgraded.
I'm not suggesting we can or should replace everyone. A big off season under Arthur would undoubtedly help change some players for the better, but it really looks as though we're far more than one or two signings away from being a top side.