It just strikes me odd that they have to scrape the bottom of the barrel for a coach. Not to say that's what the Cincy guy is, but still. It's a major major coaching job. It has to be considered top 10 in a bad year.
I agree Urban Meyer, Pete Carroll, etc they have virtually no shot, but a handful of those guys I mentioned are out of work right now and could be interested in NFL pay without doing NFL work.
It is one of the most prestigious, and least attractive coaching jobs in the country. On the one hand, anyone who turns around this Notre Dame program is going to be considered a god...but on the other hand, I am not sure it is really possible to turn around this program. With their academic standards, ridiculous schedule, and less kids caring about the history of Notre Dame football as much as sun and hot co-eds, anyone who takes on the job is almost destined to fail. And for these coaches who are already near the top of their profession, it would be a long fall down.
Ultimately, their best hope is to hire an up and coming coach with a big ego, who thinks he can be the one to prove everyone wrong and turn the program around.
edit: in rereading your post, I am intrigued by the whole "NFL pay without doing NFL work" thing. It makes me wonder which jobs is harder work. Is it the NFL, or College?
While college has limits to practices, and off-season stuff, there also is the whole recruiting thing, which is a full-time job in itself.
I think a great coach who would be up all night looking at film in the NFL would do the same in college (and vice versa).
Ultimately, I think the biggest difference between college and the pros is whether you prefer to deal with convincing kids to play for you, spending a lot of time talking to their parents, and trying to sell them on yourself and your program...or would you rather have to deal with a bunch of millionaire prima donnas who think they don't need to listen to you?