I don't have a grade, just my thoughts.
You look at it as a question of the players you have playing, their skills, talents, faults and abilities, and the system or scheme they are working within.
The team misses Martin more than I thought they would. This is mianly because Martin creates space for others in the offense more than anyone else on the roster. Yes, Artest draws double teams, but doesn't create space since he clogs up the middle. When Martin cuts, he draws defenders with him which opens up space for the post player. When the defenders don't follow, Martin is open for a layup. When they follow but do not rotate, he is open for an outside shot which HE can hit. Artest and Bonzi are not making their outside shots and are not reliable in doing so. When Bonzi or Artest cut, they stay in the middle.
So with no Martin, you have Bibby, Bonzi, Artest, Miller and Thomas. Miller and Thomas haven't had a real good game lately. Bonzi and Artest are shooting poorly from the outside and mostly scoring inside. Bibby is not a creator and has been shot-happy as of late. You not only do not have movement, you don't have players prone to creating a lot of movement. Noone is being shy about saying Bonzi or Thomas are making bad passes and turnovers, but everyone is overrating Artest's ability to create shots for others in the post. Yes, he is a better passer than either of those two and he demands double teams, but he always passes too late. By the time the ball leaves his hands, the space created and passing angles opened are gone. He is an alright passer, but not a timely passer. Miller is the best creator/passer, but he is forcing things and shooting subpar.
And for the question of scheme, there really isn't one. There are post plays run for Artest, but there seems to be few options planned off of it. It's just throw it in and will it to happen. A couple weeks ago the Kings were willing everything to happen, but the observant eye could still see there was no real offensive system in place.
And a final thing, outside of this stuff, is that the team has an attitude problem. When you have two ejections in two games, you have an attitude problem. When Bibby shakes his head at the coach for telling him to stop jacking up threes, then you have an attitude problem. This isn't from Artest. This likely sprouted during the early losses and lack of leadership. Now Artest is the leader, but he isn't really a leader on the offensive end and I think he's quite honestly naive to the offensive problems the team has. Bibby wanted to be the man, this is his time to do it by running the offense.