I've been trying to frame this discussion in terms of risk since I came back on the board, but this thread hasn't been nuanced enough in it's calculation.
This is not simply a single question of "how risky is it to keep Bo."
It's really a multi-step evaluation, with risk associated at certain milestones along the way.
Milestone 1:
Question: Does Bo have any upside potential or is this as good as it gets?
Answer 1: If you believe Bo has upside potential, you have to ask whether that potential is (a) great enough to meet the standards you as a Husker fan has, and (b) whether he will actually meet it.
Personally, I think, based on his overall performance so far and his background, he has all the hallmarks/pedigree of a coach who can perform at the highest level. Therefore, I think he has the potential to be an even more successful coach. I'd put the risk that he won't make that jump as fairly low.
Then I ask, will his potential level of success be acceptable to me as a Husker fan - and the answer is yes, if he continues to win 9 to 10 games a season and makes the jump into winning conference championships every few seasons, then he will have met my on the field requirements.
My Conclusion: As I believe he is a relatively low risk coach (or worst case, we don't know for sure yet), I'd like to retain him UNLESS we can find an even lower risk replacement that has higher upside potential. I have yet to see that, so I'm standing pat at "Keep Bo".
Answer 2: If you believe this is as good as he gets, and assuming it's not good enough for you as a Husker fan, you can move to Milestone 2
Milestone 2
Question: Is there a lower risk coach available to replace Bo?
Answer 1: No -- then don't replace him, even if he's not ideal (remember, waiting a year or two for another candidate to emerge is always an option)
Answer 2: Yes -- This answer leads to another question of risk. Will that available coach come to Nebraska?
Personally, I haven't seen a name forwarded that is of a person who is lower risk either in terms of guaranteed improvement or guaranteed willingness to take the job. In fact, based on the evidence we've discussed (e.g., very few examples of firing a 70% coach and improving the program's position) and past coaching search experiences, I think it's highly likely we would AT BEST move laterally. A lateral move would be inherently risky because there are two bad outcomes versus one good one. Bad, we decline or stay the same. Good - we improve on the 70%/quality of w/l record Bo has posted in his first 6 years.
If a person truly believes that's fairly easy to find an improvement over what Bo has done so far, then I guess you should advocate making a change now.
My Conclusion:
Weighing the risks associated with each milestone decision, I think it's low risk to moderately risky to keep Bo and see what he can do in the next year or two, but highly risky to assume we can find a better replacement coach in today's circumstances.
Therefore, I think it's fairly clear we should not fire Bo, barring some epic meltdown (i.e., a 2-4 or worse finish).