Sounds like Smith is staying, somehow Pearson has to back him.

This is what I would do
Bring in Bullock, Russell, Storton, Ben Davies, Corey Johnson.
Release Sao and Okunbor
That would give us 5 quota places, sign the following positions from the NRL try to avoid teams like Titans, Wests, Dragons and the Bulldogs, sign players who come from teams that are use to winning.

Centre (Iro)
Scrum half (Hawkins)
Hooker (Woolford)
2nd row (Alick, goes against what I said above, couldn't think of any one else, but that type of player )
Loose forward (Nathan Brown)

Walker
Martin
Iro
Sutcliffe
Russell
Trueman
Hawkins
Ese Ese
Woolford
Bullock
Staveley
Allick
Brown

Pele
Ashworth
Storton
Johnston

Wouldn't cost too much, just the paying off of the two overseas players.

Out would be

Hoy
McInhtosh
Scott
F Brown
Sao
J Brown
Cator
Houghton
Balmforth (I'd keep)
Ockunbor
Carlos
Barron
Laidlaw

If we keep getting pumped Smith can't get a new deal. I'd love to see the spin from the club if we announce an extension.

April 1st coming up, another Agar style announcement

I cannot see any external replacement for Smith. Reason is any reputable Manager would want to bring his own backroom staff. This is why Watson preferred Huddersfield , because Pearson refused Watson's request.
The interesting part, is IF we utilise the marquee player rule....as Pearson has stated,financially we should be ok,after the covid loan has been repaid.

Going to struggle to attract the better domestic players until we can start competing again or we pay way over the odds.

This is why it's massive we have 7 very good overseas players.

However we do it, we definitely need the 5 following things.

Strike centre
Controlling half, who can kick
Attacking hooker
Line breaking backrower
Tough ball handling 13

Also we need more of our academy players like Martin and Staveley to establish themselves as first teamers.

I agree, I'd like to think that had Armstrong and Wainhouse not had injuries they'd both would've made their debut by now, they could both be absolutely outstanding players.

Think Jack Broadbent is off contract but he may be on the radar of a few clubs. If we could add him and/or Iro our backline would have more strike.

And at least two of them need to be on-field leaders who the rest of the squad look up to and respect.