He is probably still there because of membership apathy.
It's no business of ours to assess, but when you ask whether he is good value, I suggest that he is not, because you could employ someone else to do exactly the same job and choose to pay them less and you would get someone just as good...
Yes, he is not good value for money.
It is highly likely that there are at least 50 ex-players out there who have sufficient nouse to do an equally good, if not better job and would probably take this on for £500k. Considering a wide supply of potential candidates, there can be no suggestion...