Michael Ignatieff is a smart guy. You have to be to teach at Harvard. The thing of it is that all the Liberals in Canada pinned their hope on this guy to be their new leader and not one of them waited to see if he could lead.
What they failed to grasp... probably because the ones making the call were also more academically minded than politically minded and the rest followed their lead... was that smart doesn't necessarily translate into either decisive or savvy. As time has gone on Ignatieff has proven himself to be a slightly more personable version of Stephane Dion.
Truth of the matter is Iggy could probably explain to you the way the country ought to be run (as a Liberal would do it) but he wouldn't be able to convince you and ten of your close friends to try and do it with him.
As a friend of mine once quipped to a particularly inept Troop Commander... "Sir, I wouldn't follow you out of curiosity."