If you think the PSU job is among the best in the country, the AD will not (a) be able to find a coach of the proper caliber for $2 million and (b) the fan base would not settle for a hire on the cheap, especially ahead of what will be a massive fund-raising campaign for a stadium refurbishment that could cost upwards of $500 million.
Like I said, the idea of a PSU head coach making $2 million a season is a non-starter. Now, if you don't think PSU is in that upper echelon of jobs, that's another story, though we'd fundamentally disagree. If/when PSU fires Franklin it'll be because he didn't win enough, not because he didn't win enough for what he was paid. And PSU will just go out and hire another coach at a high salary and try again.