You did not get it...
He got a job he would had never gotten without ...
A guy so not bothered by his ego that he can hire people who are more successful in the top 5 world than he his. Just imagine how terrible academia would be with more of his type.
The guy without top 5 pub at the place which only wanted to hire people with top 5? Ridiculous.
FE makes a pretty smart department strategy at LMU. Both senior and junior hires were top notch in the last few years. Think of this macro guy from Paris.
Also it seems less likely that a good junior will go back to the market to be at Midwest university after living a few years in Munich.