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I really, really, really would like to see the 2009 posts where people were predicting Figgins would hit .500.  Because *I* certainly never saw them.
While some people argued that his contract was too long or too pricey ... most of the griping was because of the 'style' hitter Figgins was ... that he was a lead-off hitter zero power bat, on a team that already had a lead-off hitter (that would never be moved), and on a team with zero power.  (Those were both valid complaints).  But, Figgins' worst OPS of his entire career was .685.  His *WORST*.  If Figgins' were hitting .685 at the moment, there would be no complaining.
The notion that a slap hitter, who doesn't put the ball in the air ... would tank in Safeco ... well, it was NOT predicted ... nor does it make much sense.  His WORST offensive WAR from 2004-2009 was 1.5. His WAR in 2009 was 6.9 (4.9 hitting and 2.0 with the glove).  If Jack, HAD paid him "based on his outlier season", his paycheck would have been $27 million for 1 year.  He was NOT paid based on outlier season - he was paid almost precisely in the middle of the range of his total body of work.  In Figgin's 2008 season - he had a .276/.367/.318 (.685) slash line good for an 82 OPS+.  That was a 1.5 WAR and he added 1.0 WAR with his glove.  If he were producing that 2.5 WAR ... (the WORST of the 3 years prior to signing with Seattle), he'd be overpaid. 
While I'm sure Z was "hoping" for a 2007 or 2009 year out of him ... the contract is built to pay for a quartet of .685 seasons with a decent glove and 40 SBs.  Mind you ... a .650 season and a .500 season was NOT on the agenda.  But players have career bad years.  ALL players.  A .700 hitter in a disaster year ... yeah, he can end up in 5-something land.  But, .900 OPS guys have .700 seasons, too. 
That said ... the best case for Z (and Figgins) at this point is to look for a Bradley/Silva type deal, where you make a change-of-scenery swap of bad contracts.  If I'm Z, I'm actually scouring the  market for an overpaid, veteran pitcher that seems "broken" (but is healthy) ... or maybe even another struggling 3B ... (Brandon Inge is a similar sunk cost doing zilch this year).
Figgins' may indeed be "psyched out" in Seattle at this point ... and like Sexson and Silva, his best bet for recovery lies elsewhere.  It happens.
That said ... I will note that during April there were calls that Ryan was useless and hopeless and LROD needed to be handed the full-time SS position and Ryan either dumped or relegated to the bench.  Olivo, for a time, was viewed as dead weight, with some pleading to bring up Bard.  Cust was also pegged for immediate dismissal.
May figures:
Olivo - .275/.358/.406 (.764)
Ryan - .371/.420/.468 (.888)
Cust - .279/.388/.441 (.829)
LROD - .148/.250/.222 (.472)
The stupdendous May was supported (offensively) almost specifically by those players that were the most often talked about benching or trading or replacing in some way.  Baseball players do NOT (and never have), produce on a steady schedule.  The best you can "expect" is that the highs and lows balance out over time - (and hope that you get lucky and cash in more highs than lows --- like Kennedy so far).
The reality, however frustrating, is that Kennedy is "likely" to swoon at some point - and Figgins is "likely" to get hot at some point.  But, there aren't any guarantees.  Maybe, at age 35, Kennedy has the best season of his entire career.  But, it's unlikely.  And horrid years aren't isolated to just Seattle.  Kennedy posted a 50 OPS+ (.572 OPS) in 2007 with the Cards. 
Of course, if Figgins posts a .680 OPS in June while Kennedy posts a .550 ... the club lands in about the same place it is right now.