Florida State is currently worse off than any of the options, but they also haven't endured it as long, and likely have the quickest path to recovery given location and conference.
I'd take Tennessee's scenario over Nebraska's and it isn't even close. Their only saving grace is that they're in a weak division, but otherwise, there is nothing to like about their future trajectory.
Kind of the same with Michigan. We have a more recent national title, we recruit better, and we're surrounded by way more talent and SEC exposure. Their streak to OSU is similar to ours vs. Florida and Alabama. They already tried buying their title and only achieved mediocrity after 2 total coaching failures. The job just isn't what their fans and the media hype it up to be. Also their stadium is terrible and unimposing.
Texas has a better recruiting base, more money than Tennessee, and plays in the weakest of the Power 5 leagues by a large margin. How they don't at least alternate titles with Oklahoma is a complete mystery. They just got beat down by Iowa State, the league champ, who earlier this season got torched by a Sun Belt team. It wasn't even competitive. They do less with more than any program in the country.
Penn State is having a major off year, but I think it's likely due to COVID, and expect them to bounce back to "almost there" levels next year.