I am ambivalent about this. While Chavez was a corrupt, egomaniacal, marxist twit, I dislike military takeovers on general principles. Also, considering the considerable oil reserves controlled by Venezuela, this could be a bad omen.
Of course, the massive demonstrations against Chavez were a hint that he wasn't so popular with the people who elected him. There have been a series of escalating confrontations between Chavez and his opponents, and the protesters apparently gained the upper hand.