I guess I shouldn't be surprised, but I am.
If Meyer ever becomes a head coach, again, hopefully he'd take a lower-level job (eg. Cincinnati - his alma mater) where he would be highly successful, similar to how Fresno State got Tedford, where he also went to school, after he had his time at California, and he's done very well there, winning the MWC this year.
I'm sure Ohio State will still be very good, but I'm surprised they just promoted Day, when they could've hired some much more proven head coaches (Mark Stoops, Dino Babers, Luke Fickell, Matt Campbell would all presumably take the job if offered.... There was even a rumor about Bob Stoops this morning).
There are definitely many instances where promoting someone to the head coach job works out well, but I don't think it's a coincidence that over half of the coaches fired this year (and probably most years) were first time head coaches, whereas under half of this year's head coaches were in their first head coaching job. It's not a significant difference, but it's definitely somewhat riskier.