I know it is fun to crush IU but let me give you a small amount of backstory and maybe some insight on this. Steve Alford is a God to basically anyone over 30 in the state of Indiana (high school kid's parents). This is where your boosters land and where the money comes from. He would immediately be seen as the savior and a return to the "right" way. Say what you want but for a while now Indiana high school ball has been head and shoulders above Kentucky. It fell off a bit when they did away with single class ball but the product is better. One of the biggest gripes I hear is that Tom focuses on the East Coast and not on the home grown kids. Why in the hell is Kyle Guy playing at UVA, why did Zach Irvin go to UM, why did Gary Harris go to MSU (he was a better WR than a hooper btw), DeShaun Thomas, Swanigan, Lyles, the list goes on. Crean could go 0-30 and be fine in some fan's eyes if he had a team full of Indiana guys. Many people see Alford as the guy who could get those kids to stay home.
I don't know if he would take the job but I know that the boosters would offer him a blank check if Crean leaves. They aren't firing him unless something changes and may even quietly extend him over the summer so that he would cover one more graduating class.