Certainly true, I can't see how any of Luton, Burnley or Sheff Utd stay up.
But to counter that, assuming we get another points deduction (lets go with 3-4 points for arguments sake) its an achievement to keep a side up with 9-10 points knocked off your season tally.
Throw in the uncertainty around the club regarding the ownership, no full time board in place, general apathy around the place you have to give him credit for working under probably the most difficult circumstances of any manager in the league.