“Doing well” in that position there means a lot more than winning games, but winning games does mean something, and he’s not doing it. The pure sports fans of the area and alumni base wanted him gone last year.
Administration adores Shaw (he excels at everything about the job that isn’t winning games), and if you think NIL is behind at Michigan, it’s pre-historic at Stanford, so there is that explanation (though whose fault it is for being so behind is more nuanced and Shaw is definitely not blameless).
I think it’s likely they “promote” him this offseason to a cushy Athletic Department gig and find someone who they think can win games for the sideline.