Damn straight. Even if CB releases the mother of all PRs later today, there's no good "rationale" for how this company has sat back and well, what neutral word can I use? "tolerated"? ... tolerated the erosion in shareholder value since the split. So CB can't prove these assertions wrong, it's as plain as the nose on his face.
But he could reverse some of this sp slide very easily by taking some of the same pro-active steps you just outlined.