He also suggested head coach Ruben Amorim wants to escape Old Trafford after a disastrous start, having lost nine matches since replacing Erik ten Hag last November.
With eight losses in 14 Premier League games, United now languish in 15th with just 29 points and 28 goals from 25 outings.
"When he turned up to watch his first game, Ratcliffe was afforded a hero's welcome. I understand why," Keys wrote this week.
"Desperate United fans wanted to believe. Initially, they did believe, but it's all gone horribly wrong, hasn't it?"
He added: "Not only has Ratcliffe ripped the heart and soul out of the club off the pitch – sacking long-time employees and even Fergie (Sir Alex Ferguson).
"But on it, he's reduced United to little more than bits and pieces. I'm afraid to say – a laughing stock.
"They've got a manager who clearly doesn't want to be there – a cycling expert in charge of football matters (who should never have been allowed back into pro sport after his time in charge of Team Sky) and an owner flailing about without a clue what to do next – except sack more good people."