I also think the same. Joselu is 33 years old now and he isn't even close to Benzema's quality. He must have just been signed to increase the alternatives in the offense area. I was also impressed with the work he has done with Espanyol - 16 goals in 34 La Liga matches. Because of that he might be useful in the times he is needed. But this just can't be a signing to fill Benzema's place. If we don't see any other much better striker signing then I won't have much hope about Real Madrid's next season.
Especially to become champion in the Champions League they need a qualified striker transfer. If Mbappe doesn't come now then they can just look for sensible moves. Maybe Juventus might be willing to let Vlahovic go for example.
Madrid took a risk and I think its worth it. They want to wait for Mbappe for one more season. Mbappe has only one season left in his contract, so there's no point breaking the bank to sign him now. If they get a long term replacement for Benzema now, it might be impossible to get Mbappe again next summer.
I hope to see Ancelotti stay in Rel Madrid especially when we know Real Madrid can hire better players for the next season and Ancelotti can have more tools for his work there, but for any reason if Ancelotti leaves Real Madrid this can't be easy find a coach for Real Madrid to replace him.
Ancelotti is not leaving Real Madrid. That has already been concluded. He will continue to be Real Madrid's coach for at least one more season. There was not official offer from Brazil even. Madrid trust him for the work he's been doing and they believe if its best he keeps leading the campaign.