Seems like there's a faction who believe painter underachieves in the tourney. Well, here are his results:
2007 - lost to eventual NC Florida. It was their smallest winning margin of the tourney.
2008 - Purdue was 6 seed, lost to 3 seed Xavier, who made it to e8.
2009 - as a 5 seed, beat 4 seed Washington on basically their home floor. Lost to UConn in S16, who was ranked #1 for most of the year.
2010 - overcame Hummel injury to get to S16, where we lost to eventual NC Duke.
2011 - upset by vcu. They also beat 1 seeded Kansas on way to F4. Shaka's coming out party.
2012 - as a 10 seed, beat 7 seed St. Mary's. Lost to Kansas by 3, who became eventual runner up.
2015 - as 9 seed, lost to 8 seed cincy. Behemoth Kentucky waiting in 2nd round.
2016 - we all know what happened.
So in the tourney, Purdue has lost to the following seeds: 1, 3, 1, 1, 11, 2, 9, 12.
Only 2 of those times did Purdue lose to worse seeds. With all of the upsets that happen in today's game, I don't think that's egregious. Especially because one of them, vcu, turned out to be really good. I should also point out that Purdue upset better seeded teams on 2 occasions.
It's crazy to call for a coach's head after a 26 win season. The pragmatic question is "OK, who's the proven tourney winner that you're going to hire once you fire painter?" There aren't many out there. Those that are proven tourney winners are legends and firmly entrenched in their current position. Outside of about 10 names in the college game, painter is the best option. No need to roll the dice on another up-and-comer. Chances are much more likely that things can get worse... Remember, we were in the top 20 most of the season.