I agree that Nebraska isn't in the same caliber of jobs as TX, ALA, USC but I do think it is in the same tier as UCLA, Penn State, and UGA. It's a destination job and one of the 10-15 in the country depending on who you ask. I also think the school/administration is ready to ramp up their financial commitment it takes to win these days. The school has been hesitant to hire the necessary additional recruiters and staff of larger programs but thats what it takes to compete these days and Nebraska has the resources to provide any coach with what they need.
Agreed about the coach in waiting thing though. The more I think about it the more it just doesn't make sense, although I do think that if Nebraska were to pay him more and give sort of an "associate head coach" title he would consider it. My only issue with Frost is that he hasn't been a head coach before and Nebraska went that route last time with Pelini. I don't know who Frost would bring in with him but I would assume his young personality would resonate well with recruits and he is a Nebraska boy through and through so that helps.