There's plenty of blame to throw around. Is it the coach, the GM, the fitness staff, the players, the admin? From the outside it's impossible to tell.
So, the question becomes where do you start to turn things around? Do you stay the course, or do you make changes? We've just got a new President, so you can't get rid of him. The CEO probably doesn't affect the football side of things too much, so not sure you have a mandate to turf him (even though it would be great).
To my mind, Bond took a big risk signing Lyon to a 5 year extension. That risk probably hasn't paid off. It's not that Lyon needs to be sacked necessarily (I'd be inclined to give him this season at least), but at some point someone needs to take a serious look at whether Lyon is the right man for the job, and to my mind it can't be the bloke who signed him up for half a decade. For Bond to sack Lyon would be to admit his own failure, so I'm not sure you can rely on him to be objective.
Maybe there was a good reason to sign Lyon up for that length of time, but as Lyon would say footy is a brutal business, and Bond is looking like he is on the wrong side of history here. I reckon you ask him to stick around to assist the transition, and give someone else the keys after round 23.