AS Hibernian supporters rose wearily yesterday to discover it had not been a nightmare after all, two positive thoughts may have fleetingly crossed their minds in the aftermath of their team's soul-destroying capitulation.

The first was that they would not have to endure the sight of a naked Garry O'Connor, who had threatened to streak down Princes Street had Hibs won the cup. The second was that surely now Rod Petrie, the chairman, and manager Pat Fenlon can no longer cut corners when it comes to their rebuilding job, as here was public, damning proof that this is a team in need of substantial investment.

The cup final, of course, was only the tip of a very large iceberg. Hibs' season-long struggle was evident in their 11th-place finish in the Clydesdale Bank Premier League, and a solitary home victory. Fenlon, who succeeded Colin Calderwood in November, tried a temporary fix in January, bringing in a number of loan players to try to reenergise his flagging group. This patched-up side did enough to stay in the league but bringing the Scottish Cup back to Easter Road for the first time in 110 years was well beyond them.

Hearts had been favourites on the basis of a superior squad and an undefeated derby sequence that stretches three years, but not even the most optimistic of fans could have expected their players to hand out such a walloping. It was galling for Hibs fans but may come to be a blessing in disguise. Winning would only have papered over the cracks and may have led to calls for this team of instant legends to all be handed long-term deals. Instead, the cold reality should lead to a proper and extensive revamp.

It may help Fenlon's cause that so many of the team that started at Hampden will now be off the books. Five of them were on loan and most, if not all, will return to their parent clubs, although Jorge Claros' deal does not expire until the end of the year. Mark Brown and O'Connor are also now out of contract.

Only Paul Hanlon, Isaiah Osbourne, Lewis Stevenson and Pa Kujabi of the starting XI have deals extending beyond the end of 2012 although, given Fenlon's comments in the immediate aftermath about "needing to change the players to change the outlook of the club", even they might not be able to rest easy in the weeks ahead.

Plugging a porous defence will be Fenlon's primary task. He may try to secure McPake on a permanent contract, the central defender having impressed during his loan spell from Coventry City and who often led by example as captain. He scored Hibs' consolation goal and made a last-ditch clearance to stop Hearts going three up before half-time, but must surely accept some culpability as the leader of a defence that shipped five goals. Hanlon, the Scotland under-21 captain, may benefit from having McPake alongside him next season, should Fenlon elect to keep him.

Kujabi arrived in January on an 18-month deal as "the Gambian Roberto Carlos". Presumably there is not much competition for that title in his homeland. The left-back endured a nightmare day, booked in the first half then sent off early in the second after conceding a penalty. Fenlon may contend there will be better options to fill that role. His preferred players at right-back – loanees Matt Doherty and George Francomb – will leave, too.

The lack of dynamism in the Hibs' midfield will have been a major concern, with Fenlon looking to add several competitive types, as well as a creative presence with a bit of guile. The Hearts defence could not have expected such an easy game, with no Hibs runners from midfield and precious few crosses to deal with.

Then there is the Hibs attack. O'Connor started his second spell at the club in stunning form but has tailed off badly. Leigh Griffiths has been a frustrating presence, his goals diminished by an almost childlike ability to get himself into trouble. He, too, will likely return to parent club Wolves, although he has not closed the door entirely on a permanent move to Easter Road.

"The Championship is a great league and I would like to chance my arm there," he said. "With the new manager coming in, there might be places up for grabs. Players will be moving on and players staying. I hope I am one of those staying to fight for a place in the first team. I am Hibs fan myself. If the opportunity arises to sign a permanent deal I would love to do it. But right now I am trying to concentrate on being at Wolves."