Thats kind of a huge risk, don't you think? IIRC, VCU was one of the last teams into the tourney two years ago, and I don't think they won their conference last year. Shaka would be making almost double the money at Illinois, have better facilities, better talent base, better exposure.
I don't know what "elite" program is going to hire a relative unknown like Shaka Smart. Kansas didn't hire Bill Self from Oral Roberts. I think its a big step going from small-time program to big-time program. Look at that idiot from Texas A&M, Billy Gillespie. He was from a major conference and he still couldn't handle Kentucky.
Maybe Shaka will be like the Butler guy...happy to get his payday then fade back into obscurity in a couple years. But its stupid if he's holding out for a
"better" job.
I think your last paragraph nailed it. Maybe Smart is one of those coaches that's happy where he is.