You're right. Power 5 schools shit can coaches for winning 7, 8 plus games. They don't sit on a coach who's offense and recruiting consistently rank as the worst in the country.
Because they can afford to. Feel free to cut a check and buy out the rest of his contract. It's boosters that usually pick up the slack on remaining contracts. NMSU is still feeling the financial burden for firing Hal Mumme nearly a decade ago, even with major donor support.