That doesn't make any sense at all.

College football programs rake in huge money, and therefore the people responsible for their success do too, whereas minor league baseball teams do not, and therefore their coaches don't.

They rake in huge revenue, but most programs are in the red. Former UMich president James Duderstadt wrote a book (Intercollegiate Athletics and the American University) where he claimed that the reported profits for most college football teams are bs, and in several supposedly-profitable Rose Bowl seasons, the Wolverines lost millions. Mostly the teams get so much $$ based on perceived (yet statistically negligible) alumni donation increases based on a team's success.

The XFL had a lot of problems, but very few were related to the business structure.

The biggest problem was that the best players in the world weren't playing in the XFL. Div I-A college football doesn't have that problem. The lower divisions do, though. I doubt many Div I-AA or Div II coaches are making $1MM.