If ISU did not give Fred a chance someone else would have... Steve Kerr had limited to no coaching experience, but managed to land a job. So not buying the we were the only one that would have ever gave him a chance.
Thibs got fired because he and the front office don't see eye to eye. That is common in the NBA, so I would counter by saying you need to find a front office you can work with more than anything. Unless you happen to be GM and coach.
Go into the Bulls situation now vs what Floyd went into is not even remotely close. Jordan did not like ownership and he was bigger than the Bulls organization. When the greatest player on the planet says the coaching hire is a bad one, then you are pretty much screwed. The titles were very very fresh when Floyd took over.
If a guy has location in mind and one of those open up, you do not pass on the job in hopes it will open up again someday, because you have no way of knowing when that will be.
That said, I am pretty confident Gentry will be the next Bulls coach, and the Bulls are working to get some compensation for Thibs, since he is still under contract. Other teams have to decide what they want to give.
That is the hold up. Hoiberg is not going to show his hand, because he wants to coach in the NBA someday, has friends in the Bulls organization and if the Bulls asked him to be quiet till they worked it all out, he is gonna be quiet.