Shaka has won 65% of his games and has taken his team to the NCAA tourney in 7 of 10 seasons including one final four (granted it will soon to be 7/11). His teams won the CBI tourney (his first year coaching) and NIT tourney in two of those three seasons that they didn't qualify for the NCAA. Manning, on the other hand, has won 46% of his games, has made the NCAA tourney in 2 out of 7 seasons (if we're including the first four dud), winning 0 tourney games there, though he also qualified for the CBI in his first year (didn't win a game). So yeah, Texas sucks this year, but overall their respective accomplishments are not very similar at all, really. Also Smart is charismatic and not a wooden stiff so call me crazy, but that's preferable in a coach.
Again, throw all that VCU crap out the window. His tenure at Texas is a little better than Manning's at Wake and they're ready to fire his ass. Wake ran off a coach who won an NIT.
Smart's average record over his first four years is 18-17, and that includes 5 wins in the NIT championship season where he went 16-15 in the regular season. Texas is on its wat to its fourth straight losing season in the Big 12.
For comparison Manning is averaging 13-19 at Wake. You don't pay a $15 million buyout to get a guy who is maybe going to win five more games a year, and is on the verge of being fired for underperforming expectations, and is underperforming the last coach in that position.