To me, it just shows the ineptitude of management, as it is a panic move brought on by a series of poor decisions.
I believe they had the intention of letting Malone go after this season was over, and going after a coach in the offseason. I believe that when Malone got the team off to such a hot start (and on pace to compete for a playoff position), they panicked, knowing if they made the playoffs, they wouldn't be able to fire him. This lead them to fire Malone at the first sight of trouble, thus ending the season (on purpose), rather than facing even more wrath after firing him potentially after leading the team to their first playoff appearance in nearly a decade.
Corbin wouldn't have been as good, but I don't think dropping something like 12 of 14 was their idea of how bad it was. Then: more panic set in after squandering any goodwill they had built up with the fanbase with their poor decisions and foresight. Instead of waiting for possibly Thibs or Brooks, they have been pressured into signing a 63 year old coach for 4 years.
I like Karl, I think he's a good coach (for a while), but I don't think this team is in the right place for a coach like him. If this team had been a year or two better, with a first round exit and more talent, then I could see adding him to make a serious run. However, this team is still rebuilding and doesn't have the personnel to compete in the playoffs, and I don't know if Karl can take them where they want to go. Thibs, I think, would be able to bring back the defensive mentality that made the team successful. He could have optimized Boogie's talents, and done the most here methinks. This entire move just screams panic that was caused by poor decision after poor decision.