Taking the best regular season team to 7 games is nothing to feel shame about, and obviously his team responded to his coaching. I think he deserves another opportunity. An overlooked factor in young teams is having consistency with your team and organization. I think they should have some patience and see what happens next season if the success translates, this is not a good time for change for that team imo.
Edit: Knight Resigns As Hawk's GM
Press Release -
The Atlanta Hawks announced today that Executive Vice-President and General Manager Billy Knight has submitted his resignation, effective July 1st, after six seasons with the club.