I think you are absolutely wrong. And to address your attempted slight in your lead-in, there's a 99% chance I have a better job and make a lot more money than you. Or I am lying with the protection of the anonymous message board.
Look at the value of the Iowa football franchise since Ferentz arrived. Look at the state of the facilities, revenue, etc. Iowa football is massively successful. He's won B1G championships and a BCS bowl. He's been to two BCS bowls. He's finished in the top 10 many times (in a row). He is a class act, by all accounts. He has been loyal to Iowa at many times when he was the hot coaching prospect at the pro and college level. He is lauded by college and pro people time and again.
On the down side, he has a bad recent record of performance. The offense is head-scratchingly bad. But the program is relevant and profitable. Iowa is a tiny state. This is not USC or Ohio State. Feel free to fall back into the old retort that acknowledging that Iowa has inherent disadvantages is a) wrong and/or b) a bad excuse.
His on-field performance since 2010 has been mediocre or bad. Iowa fans are frustrated. Many say dumb things as a result of this. Your post is an example.