Hofstra did move down in the rankins from tier two to tier three, however as we all know, these rankings are subjective. Their low bar passage rate probably does play a significant role towards thier drop, but, they did just start a new "Bar Exam" course, that could be part of the curriculum if one chooses; they predict that thier passage rate will rise significantly.
It is in my perception that they are not heading in the wrong direction, they will bring thier ranking back up before I gradute, I'm confident. Think of it like anything else, natural fluctuations do and will esist, especially in a subjective ranking system.