I am not interested in a retread OC (ala Greg Davis), and I am not interested in a retread QB.
We are going to lose a bunch of people off a historically good Iowa defense. The O has hit rock bottom. This is the perfect time to start a rebuild.
Pick a young OC with a track-record of success and innovation at a smaller school in the upper-midwest. Someone who other coaches rave about. Someone with a philosophy of balanced football in a sense compatible with the modern game. Don't worry about pedigree, lack of P5 experience, just hand him the keys, and get out of the way.
Play for the future. At QB, pick the best of Lainez, May, and Labas (or DeJean), and roll with him. Or get a young guy out of the portal. Are any of you excited about McNamara (or any other 1-year stopgap) coming in and running the same offense that Petras just ran?
Hit the portal hard to rebuild OL. Figure out whatever the Hell has gone wrong with that position over the past 2 years, and fix it.
Likewise, sell your program to young WR in the portal. Convince them everything will be different with this new OC, and they have a chance to help build the "New Iowa Hawkeyes."
And re-evaluate the "Iowa Way." There is lots of good there (personal responsibility, accountability, controlling what you can control, minimizing mistakes, etc.)...but a team afraid to make mistakes is going to have a low ceiling. We have to be willing to play young players through mistakes, we have to tolerate some risk. Sure, we will lose some games because of it (see Jeff Brohm), but we will also win because of it (see Jeff Brohm). There has to be some point on the spectrum between KF and Brohm that is more optimal than current.
It won't kill me to see the Hawkeyes lose next season, but it might kill me to see them lose in the exact same ways that have haunted them recently.