Bull. Is it the same job it was 30 years ago? Obviously not, but many of the folks who recognize the advantages most keenly are coaches themselves. You have to get away from the trees a bit to see the forest. You want me to make the pitch for IU vs T Tech, it's simple: At T Tech you will always, ALWAYS be 2nd fiddle to: football, UT, and Kansas... and probably spring football. Some years you might best them, but year in year out the fball program will get the shiny new car and you're getting the hand-me-down, and UT and KU will get the better recruits you desire.
At IU, you are the premier program, not only at your own school, but also in the state and if you can rebuild the brand, you can be the big dog, or one of the big dogs in the conference. For a guy who truly wants a NC and to be at the highest level of his profession, IU is still the choice. He may have TX ties as you say, be totally happy there and never want to leave, but there are career advantages at IU that you'll never enjoy at Tx Tech.
PS, and yes, if he can deliver, he will get more $$ at IU, but he's going to have to deliver first to get the much bigger paycheck.