I don't understand why it's so mind boggling to some. Everybody is looking at right now, and Malzahn is looking at long term. While he is taking a pay cut now, he will be a HC, and will more than likely be successful at Arkansas St. If I think that, then he probably knows it as well. If he is as successful as I think he will be, he will probably be making over a million a year in a year or two anyway. Him leaving AU is just as much a gamble as him staying at AU. For all we know, AU won't win a single game in two years. They might win a NC in two years. You just don't know what's going to happen. If he is successful at Arkansas St., then another team will want him as their HC eventually.
The good thing about it is he is inheriting a program that is rising. He isn't walking into a situation where a coach has ran a program into the ground. I think Arkansas St. is a perfect fit for him.