Here is the thing about the Kings, we're a small market team. The Kings have lost millions upon million this year and last year due to COVID. I can't see them giving Luke 11 million dollars to walk this off season.
As much as people may not like coach, Luke actually has the 2nd highest win percentage of ALL Sacramento Kings coaches, EVER! As sad as it is, his 0.436 win percentage ranks only behind Rick Adelman in Kings lore. His win percentage is higher than Mike Malone, Dave Joeger, George Karl, who all had All-NBA DeMarcus Cousins at the time.
Considering some experts considered the Kings to have the worst roster to start the season, being 30-38 may be seen as success to the upper management. I'm not advocating for Luke to stay on as coach, I don't care either way, but I definitely would not be surprised to see him retained for next year at least.