There was an utter and systematic failure of leadership that had all but destroyed the structural integrity of the organization. The only things that kept the school from completely losing its accreditation were the academic programs. Somehow the faculty had continued to show up and bring their best to students in spite of the decline.
Success in any worthy endeavor is bumpy along the way. Go ahead. Randomly select a scientific or social wonder that we take for granted today, and chart its course to success. At some point -- probably at several points -- its developers said, in moments of weakness, "I give up," or "It's just not going to happen." Yet they soldiered on, and we are the richer for it.