I basically just said that...
Out of the those four straight losses, the only loss I would say that is arguably shameful is Chris Lytle because he was on his way out. But his first 2 were to GSP and Condit who just had a title fight. Then he lost to Anthony Johnson who wasn't a very good math-up for Hardy, and may be undisciplined at cutting weight, but he's a good fighter. Let's not sit here and act like he's not. So regardless of whether he should've been cut or not, he's still in the UFC and he's won his last two. There really isn't anything suggesting that that he should be cut for the UFC at this point and time.
Depends on how you define "good". I would call him OK at best. Plenty of guys outside the UFC are much better fighters. He would likely lose in the first round in this upcoming Bellator WW tourney IMO. Douglas Lima is so much better then Hardy it's not even funny. He would dominate Hardy in any and all aspects of the game.