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The biggest asset of NALSAR has never been faculty as such. It is your batchmates and the alumni. With a batch so large, internal competition ends up driving you to be a better version of yourself. Being exposed to such a diverse set of students helps you grow as a person as well. Most of the laws can be studied by oneself provided one has certain basic understanding of english and legal systems. While good faculty definitely helps, it is a small component of campus life. I've learnt quite a lot from my batchmates, seniors, and juniors. 15-20 years down the line, these very people would be in quite influential positions in the legal circles.
For placements, it's going to depend on the efforts you put in. T-1 firms don't care about what faculty NALSAR has. Rather, they will judge the students based on their performance in internships and their interaction during Day Z. Self-study should help you there.
Lastly, the alumni network of NALSAR is your biggest strength. We are here to take care of you, so don't worry too much.
The reason not to worry is that all institutions go through transition. Nalsar has been through several including Veer Singh and it survived. Have a little patience. Faizan did well but the junior people who left recently are not the best professors Nalsar has ever had.
If you want to be constructive, think about people in the state and people who might be willing to move, who you want to learn from. Go tell the VC so that he can try to hire them.