Andy, you're right about the impact this firing is going to have. Waters was an absolute slam dunk hire as a successor to Woods - he was a former band member and alum, innovative, and "got it" when it came to the culture within the band (which in hindsight turned out to be a flaw). There has been a strained relationship with the top brass in the School of Music and the Band, the biggest criticism at the time of the hiring was that he didn't have a Doctorate Degree on his resume (think of it like Tress in his bid to be a University President), but that got thrown out the window after the viral halftimes took off.
The band is never going to lose the real traditions of Sloopy, Script, Ramp and others, but this is going to be a blow from which they will have to rebuild from. I just hope they find the right person to take the helm.