All the media, including much of the Right, seem to have it all wrong. Obama is not incompetent much as Jimmy Carter wasn't incompetent in letting the Ayatollah Khomeni depose the Shah in Iran.
The truth may be stranger than fictitious conspiracy theories.
The "uprising" is being well orchestrated by Al Quaeda. It is being well disguised by the deliberate inaction of our own government. The fall of Egypt as a "friend" of the US will have seriously bad consequences for Israel. The fragile "peace" that Pres Carter forged will be undone, without it appearing that the US government sanctioned it.
Here is how the not so mainstream pundits see things: