An important (likely psychological) addendum:
You have programs A, B, and C. Programs A and B are in the same state and same conference. Program B is doing well enough, but really wants to be good as good as program A (which is a national power). Program A is on a great run of success after poaching the rising star and successful coach from Program C. So, when program B is need of a coach what do they do? They hire the coach who was recently fired from Program C. The coach who immediately followed the coach hired away by Program A, who lead Program C to it's worst season in history, and arguably has Program C worse than Program B.
The effect of knowing that success at C -> getting hired at A, while losing at C -> getting hired at B magnifies the oddness of the hiring. I can't imagine this ever happening before (two "rival" schools in the same conference hiring a coach from a third school with such different endings at that school).