He's so likeable that we really want him to succeed, and with so many close losses there is a thought that learning to make slightly better in-game decisions and having a better playcaller now might turn around some of those close games into wins (he did exactly that in 2021 when we went 9-4, winning a ton of close ones). Nearly beating LSU and Alabama shows that there is some talent, but it ultimately doesn't really matter if you don't win.
He also has a pretty good (for Arkansas standards) ~20th ranked recruiting class coming in so there's that. He essentially fixed the defense which was near dead last in the NCAA last season and is respectable this year so some fans think he should get a chance to do the same with the offense, but if he ends up 4-8 I don't see a realistic way to bring him back. Kiffin having Ole Miss in the top 10 doesn't help.
It's always hard to start over yet again but after so long you can't just hold on to "he's better than 2-10 Chad Morris" in the fourth year. Reminds me a little of Mike Anderson for the basketball team where he at least left it in better shape for the next guy even though he was a little underwhelming overall. He might just surprise everyone and retire to his lake house in Hot Springs anyway, who knows.