First, never mind about general fan perception, how would YOU feel about the Reds waving the white flag this year? They're in 4th place in a weak division. The roster is stocked with young, talented guys. But with youth comes the inconsistency we're seeing now.
For me, I would be OK with it as long as it came with a plan for getting the younger guys more experience.
Second, what moves would you want to see if the white flag was waved?
I would want to see Hernandez traded, Mes up. Renteria DFA'd, and Janish brought up. Rolen to the DL and Frazier brought up. Gomes and Lewis traded or DFA'd and Alonso brought up. Also test the market for Volquez and Cordero. I'm not proposing any specific trades, just the players I'd like to see getting regular time until the end of the year.