With his current appearance, it seems that Madrid have very little chance this season to bring home the title. In La Liga I think the title already belongs to Barcelona, then in the Copa Del Rey there is still a 50:50 chance for both of them. A team's setback is indeed the full responsibility of a coach, but in my opinion it is very unfair to have to fire Don Carlo in the near future. Problems in the Los Blancos squad were detected towards the end of the year and added to by Benzema's injury at that time. Madrid's management should have spent on players in January transfers to add strength and keep the team's performance stable.
I think it's almost impossible to replace Carlo Ancelotti this season, unless at the end of the season Real Madrid don't win any titles.
now Real Madrid have not been eliminated in the race for any title, in the UCL they still have a chance even though it is very difficult and in the Copa Del Rey also have a possibility despite losing 1 goal to Barcelona in the first leg, as well as in La Liga, Real Madrid are still competing to win league, the journey of this season is still very long and all possibilities are still possible to happen.
however, the current problem is the inconsistent performance of Real Madrid and that is inseparable from the lack of strength in their team because this season Real Madrid seems to be forcing the existing squad to overshadow this season without the many new recruits, the latest as in the previous season.