From my perspective, this is another lottery year for us, so as long as it's a one year deal, he can't hurt that. If you expect the Sharks to compete for the cup this year, then yes, he should be gone.
I'd rather reward someone that is developing with an NHL paycheck over keeping someone who isn't helping the team regardless of the direction. The GM believes he is protecting the other guys and we both know that isn't true. He has no other use.