They're not paying that because Kiffin is good, they're paying that because:
1. two programs bet on one guy
2. both programs have enormous pressure to get it right and most importantly
3. coaching salaries have adjusted enormously over the past three years.
4. no one else is available.
I'm also not sure why Kiffin is supposed to be in this high regard, he's thrown away a playoff spot vs the Gators last year, he's barely snuck by Kentucky, Arkansas and Washington State this season and can't get over the hump against the big SEC teams that are weaker than ever, with NIL bags that are absolutely in the elite echelon. He's not as good as you make him to be, period.