They have a very important job to do in selecting the manager and they balls'd this up good and proper a couple of times but I believe that they have now rectified this and hopefully will not have to do that again for many years. I know they have also committed some PR disasters but frankly if viewed by a neutral rather than a (justifiably) hurting and angry Alty fan the written ones aren't as bad as most feel. I can't speak to the verbal behaviour / comments as I wasn't there.
I completely agree that our sudden change in playing staff has not been helpful, and if we kept the bulk of that squad we'd probably be bobbing around mid-table right now.
However, you give the board too much of a pass for two disastrous managerial decisions. The Tolson decision being particularly egregious given every man and his dog knew it was a decision based on loyalty to a friend rather than the good of the club (which should be the primary interest of the board).
Their most important job is to choose a manager. The board chose a manager that was happy to release most of the squad. If continuity at one level constantly brings discord at another, you can't look at the discord and say that this is a good argument to stick with the continuity that caused it.
You might be right that they have finally made a good managerial decision, meaning that they shouldn't be able to cock it up for a while. However, the jury is still out.