The "fascination" is obviously what he's doing at Jackson State on the recruiting front—having plucked a few 5-Star kids who want to be big fish in his little pond.
FSU is famously over Mike Norvell, but due to paying out Willie Taggart—they are in no position to get rid of him ... yet—so dude rides on.
Safe to say if FSU has another tank-job season—something in that 5-7 range—that enough will be enough and they'll "find" the money to get rid of him.
If boosters write that check, they'll have a big say in who comes next—and a safe bet they want the flash and sizzle of a Deion Sanders hire; the fact he's succeeding at a small school and is poaching talent they're chasing—they also know his top kids will come with him.
Will Deion succeed as a head coach at Florida State? Don't know, and at this point don't care—as its a hypothetical—but doesn't take a genius to see that if he can recruit well at Jackson State, he'll recruit well at his alma mater.
Regardless, Miami got a huge jump on whatever FSU does down the road—as Mario hit the ground running for 2022 and will make some huge strides the next two years with this staff.
Hoping FSU pulls a 7-5 season and Norvell does just enough to stick around, while Miami grows leaps and bounds over the next year.
i'm not the only one who will tell you this. you can ask @Cribby and @Liberty City El and maybe even @Brooklyndee can throw in here ..... but if you talk to any AD's (or even other coaches) who really know what is going on in college football, they will share with you some stone cold facts:
1) what Deion has done has been great for HBCU's generally, and has found a niche' to create some good PR and buzz for HBCU's. good for them and him.
2) it's not necessarily transferrable to a traditional Power 5 program
3). Deion is mostly about Deion. He's not a sociopath, not saying that, but the narcissism is such that he's basically the Donald Trump of college football
4) he's not exactly a great manager of staff or of a program. he's running things on the force of his personality, not because he has any of the management "Football CEO" skills needed to be a great coach
5) he's not all that interested in putting in the work to be that kind of coach either. no one is ever going to confuse him with don shula or nick saban.
6) he'll get on a plane to go visit a high-profile recruit any time. he's happy to do that, because that involves one skill he has, and is willing to do all day long: Talk (and frequently about himself). of course, most people will tell you he has minimal (if any) filter, and at a major program, his mouth will eventually get him into trouble. what he could get away with at jackson state, he won't necessarily get a free pass for in power 5.
7) lastly, if he did get a power 5 job (which would be a PR stunt at this point), it would be a circus, and most AD's know it. Actually, since FSU has a circus, that might be a good fit after all. either way, he'll snag a few high profile recruits here and there, given the glitz factor he can spin to the more gullible. but no one is going to feel threatened in a major conference because Deion just took a head coaching job.