It isn't true that there is nothing Penn State could do to please people. It is actually quite simple.
First, stop assigning blame in all of this on a sliding scale of culpability. It is a yes/no question. Did you have anything to do with the rapes (Sandusky), did you witness them (McQueary), or did you know anything about them (many people but includes Paterno). If the answer is yes you are out and you are out immediately. Not the end of the season or tomorrow, now. Don't accept anything less than a full investigation of everyone and those that get cleared get cleared and those that don't get fired and prosecuted (if they can). The punishments will differ in a court of law, they should be uniform inside the program. Knew anything goodbye.
Don't worry about what it means for the athletic program, that is secondary. More important is doing the right thing and ridding Happy Valley of the rot. If that means they have a decade of poor teams while they rebuild so what? That isn't what is important.
My favorite team in any sport is Manchester United. They, much like Penn State used to, have a very long serving and highly respected manager named Sir Alex Ferguson. If the exact same scandal and cover up that is happening now at Penn State was instead happening there, and if everything Joe Paterno knew Sir Alex knew, and if his inaction was the same I would want him gone immediately. Whatever air was in my lung when I found out I would want him out before I exhaled. I would feel betrayed by him. I would want everyone that knew out. I wouldn't care about how we did the rest of the season or if we were relegated because we crashed or were sanctioned. All that would mater is the kids who were effected and getting the inhuman scum that participated in any way out of the club sporting results be dammed. Nothing Sir Alex did for the club on the pitch would matter. He would be dead to me and it would be as though he didn't do anything for Manchester United other than allow children to be raped.
That is what is missing in the whole thing from Penn State. I don't want the program shut down or even the season canceled (though doing so would send a clear message that football doesn't really matter in comparison to child rape). I want to see the sense of betrayal from the fans about Joe. I want to see the fans care more about finding out every person involved and removing them despite what it means for the record. I personally don't see that. Is it fair to the players, fans, and any administrators that had nothing to do with the scandal? No. It wouldn't be fair at Manchester United either but I would accept it with open arms because it is the morally right thing to do.
And right there sums up what I feel about this situation and what I expect the Penn State fans, students, players, and alumni to feel. I want them to say what is moral and right in life is more important than what is fair in sports.