I don't pretend to know anything about Woods. Sounds like some on here know him and don't think this is the right fit for him. I get it. But, if Woods is holding onto the narrow dream of being Iowa's next HC, with respect, he should cast a wider net. That is a narrow dream.
If he wants to be a HC in general then taking the NW job is a smart move financially and career wise. To go from a position coach in college directly to a HC at a Power 5 school would be incredibly rare. I don't care if it is not a great job, its a Power 5 head coaching job. You can parlay that into better jobs down the road. But, the acceleration to his career by getting a Power 5 HC job right now cannot be undersold. And, if and when KF retires, his resume from the NW HC job would dictate he would be a front runner for the Iowa job.
Toiling as a position coach at Iowa with the hopes you will get the nod in a few years when KF hangs them up is a risky strategy. But, if he and his family are happy at Iowa, that is great. We are lucky to have him. Personally, I would take the promotion and SIGNIFICANT pay raise. I mean, it is generational wealth if you hold a Big 10 HC position for a couple contracts.