Lowe is far from blameless. He made two particularly strange substitutions on Saturday, but whilst he is responsible for the formation and no doubt had a say in players released, he's only responsible for players bought/borrowed in so far as our restricted budget allows.
Parrott has been a big disappointment but it could have been foreseen, as his scoring record in League 1 was underwhelming, but he was probably the best we could afford. I'm sure Lowe would have liked to sign a prolific young PL striker on loan.
I've never been convinced by Lowe but I gave him the benefit of the doubt until he had the chance to build his own squad. Unfortunately, he hasn't had the backing to do that.
As for a more pragmatic manager, surely you can't get much more pragmatic than 3 goals in 10 games, and 4 conceded?