I'm not surprised he was offered an extension, but I think with the move to the new stadium and new era amongst other things it would have been the right time for him to seek a new path, either from within the club or outside. Both he, and the club, will have to do so eventually.
I would be very eager if I were him to get coaching badges and get stuck into a role somewhere, with the aim of returning.
That said, I don't think this is a hill worth dying on. Nor would I underestimate his leadership and contribution during some of the darkest times in our modern history. The ship did not sink.
I was struck by Lampards praise of him in particular. A very average manager, but a superb player who knew the highest of standards.
We have bigger things to concern ourselves with this summer and it's time to get on with it.