I think it made sense to move Holley to the Big show. That show was just getting worse and worse, and he adds a level of professionalism that I think could help them stop the bleeding a bit.
I have no idea what they were thinking with the midday show though. Mutnansky is terrible (talks way too much with nothing to say), and Merloni does a good job for a former athlete, but that isn't actually a compliment. Merloni is a good guest host, because he can give some perspective on baseball, but as a full time host, its going to be a disaster.
Honestly, I think the Midday show was the only thing WEEI had left, and they just conceded it to the Sports Hub, in the interest of saving some cash, and slowing the sinking of the drive time ship. Unless they can get some real personalities in there, and change the perception of being the station where you just get shouted down by mindless blowhards, they are not going to be around much longer.