From Despair To Where? I'd be wary of overstating Gerrard's ability just yet. Celtic have had it easy and been coasting for a decade and, as has shown in their recent European excursions, have got soft. Gerrard has done well to re-establish Rangers as a real force in a 2 horse race and give them a bit of steel and consistency but let's not go proclaiming him Klopp's heir apparent quite yet.
As for where Rangers were when he took over, they had finished 3rd, which for a team with their resources, in that league is underachieving. This isn't a minnow he's taking to new heights. I can also see them dominating for the next five years whilst Celtic sort themselves out but I'd like to see what Gerrard can do in a more competative environment first.
Whilst fair a record of W26 D4 L0 is pretty impressive regardless of the league it is in - not sure there have been many better records in the SPL in recent history at least - though may be wrong.