All depends who the alternative is doesn't it?
Plenty of people out there now raging at Martins as the backup to Lopetegui, would they have been any happier the other way round with Martins in the door for West Ham and Chelsea but now someone potentially better walking free?
There's always a chance this can happen, you're not going to make offers to 2 or 3 people and have them all lined up ready to go in case the first choice says no. They'd set their sights on a particular individual, like pretty much every high profile managerial appointment, and it's not happened so now they look elsewhere.
I get people are pissed off generally with the season so far, and most of the one previous, but this isn't some Wolves specific problem that only Shi could manage to magic up. It's the way life goes sometimes.