Well, yes, "if they're successful." That is a big "IF." I agree that there are likely many FCS coaches and coordinators who might well be successful under the scenario you describe. But what AD or administration is going to go first to hire an unknown FCS coach for, say $1.5M, plus incentives, when another, better known Div. 1 coach with a good record can be hired for $3.5M per year? Fans would go ape$hit with the "bargain bin" arguments. Everybody on this board only wants to consider "proven" coaches and are hard against hiring another "google" coach.
No established or proven coach is going to accept the contract you are talking about, so google coaches/coordinators etc. are all that's left. And it seems abundantly clear the fanbase isn't going to have the patience to give the google coach more than 3 or 4 years to "be successful."
Look I fully agree that coaching contracts have become untethered to reality, but as long as TV money is pouring in and fans demand that the coaching staff "win now" the market is going to be whatever the market is. If, that is, you want to hire more of the "can't miss" coach. I fear what you advocate is a recipe for even more coaching churn. Less generous contracts would likely work (by "work" I mean less money is paid to coaches, not that the coaches will necessarily be winners) IF the administration and the fanbase would stop with the unrealistic expectations that a new coach be winning 9 games by year 3, and can never lose a game they are heavily favored to win.
Personally, I think there is no particular rhyme or reason to why a coach is successful at a particular school (or not). There are just so many variables. Sure, the more experience and a good win/loss track record is a strong indicator, but it is by no means determinative. A coach can epically fail in one place, and then find success somewhere else. Even Nick Saban's early career record was less than stellar. Even at the same school, there can be big ups and downs from one season to the next (see LSU). Sometimes you catch lightening in a bottle, on the cheap (but of course, then you have to start really paying out the nose to keep the coach). Sometimes you spend a ton to hire the guy that on paper and prior experience looks like a can't miss hire, and they lay an egg. I don't know what the answer is..
I think what UT maybe needs to do right now is adopt more of the Kentucky approach. Find a good, reputable coach for a reasonable salary (by current standards) and give him time to do his thing. He has been at KY since 2013. Now, some seven years later, his teams are respectable to good. Not great, but respectable. If KY decides to part ways with him after a bad season or two, their next coach will likely inherit a good roster to work with. That job will be attractive to the next guy up. Can't say that about Tennessee. Actually haven't been able to say that for awhile. TN is stuck in a hire and fire cycle which is embarrassing, and just puts us further and further behind. I am not saying keep Pruitt, given this season and the compliance issues, but what this program needs more than anything else is stability. Until we get stability, we can forget significant improvement.
JMHO.