I think that's probably what's happening here.
But, I also don't think it's inconceivable for Franklin to jump unexpectedly to a USC or even FSU (or Texas, if that were to open next year, for example). He has made it clear that he wants to win a title and wants the resources to get it done. Even if he gets an extension and some concessions on facilities/salaries during this go-around, it's hard to say whether this administration is willing to go the distance and match what the Ohio States and LSUs and Texas's are doing. And if that commitment isn't there.......well, programs that are willing to go the distance may look more attractive.
Not sure how much the social media negativity truly impacts him. And I'm not sure how much the dreadlocks incident, the death threats to Clifford, the Davey Jones second-guessing, etc. gets to him. That kind of shit is going to happen at any major program -- at least the negativity and second-guessing. But he's a human being, and no telling how he has internalized that stuff. If he has a feeling that he's not truly wanted here, then I wouldn't blame him for leaving. And nobody here truly knows where his mind is at on that.