They should. It brings negative publicity on the UFC brand. Don't get me wrong, I love to watch him fight. He is the most dominant champion the light heavyweight division has ever seen! But, it is damaging to the sport and to the UFC brand to keep him as the champ right now.
Allegedly, he ran a red light, hit a car, that car then hit another car, broke a pregnant lady's arm in the crash, he ran from the scene, came back to take money from the car, ran again, left a pipe full of weed in the car, and disappeared off the face of the planet for 24 hours, before turning himself into police.
Why did he run? Was he impaired? We can make all sorts of accusations or assumptions but its possible nobody will never know.
In my opinion, I think he was high, ran the light, crashed, panicked and took off. He should know better! He might have got away with it but an off duty police officer recognized him as he ran off, hopped a fence and ran up a dirt hill. That screams guilty with a slice of something to hide to me. Either way this is a pr nightmare for both Jones and the UFC.