This is definitely reason for concern, but a couple puzzling parts. Obama's approval is above water and at one point they say Bayh's name recognition is at 82%, while another place it says it is 54%. It's July and there is plenty to hit Bayh on, so I won't panic just yet. People don't have the frustration with Bayh that they had in 2010 because he's not an incumbent. Most Hoosiers just know that he was their popular governor and senator, then he resigned to "spend time with family."
I think most Hoosiers who know of him know he retired, not resigned, unlike you.