The only job that I think 1) could be available, and 2) that he would take . . would be Ohio State. If Ryan Day craps the bed again, his number could be up. Of course, his team should be loaded this year.
Otherwise, I don't see a vacancy at a place he'd leave for. Ole Miss has treated him well and are paying him a very good salary. He's in the middle of the best recruiting in the nation. They give him pretty much anything he wants. And he's built a team that will contend for the NC. So frankly I don't know why he'd leave.
Think of it in much the same way Texas was back when we were wandering in the wilderness. Academics ruled the day and didn't want to spend so much on athletics, namely football. So glad that's over. But I think Ole Miss went through something similar.
What you are saying makes sense. The only question is can a school that size(less then 24k students. 64k stadium) keep up with the arms race against the big boys.
This is the same guy that left tennessee to take the usc job. If a major blue blood program comes calling I think he would seriously consider it.