Marc Jacobs is extremely talented, one of the most talented designers out there. But my issue with him, as others have mentioned, is that he is so inconsistent with his output. His direction changes drastically from season to season, he'll pick up one idea and then drop it only to pick it up again a few seasons later, or not at all. And not all of his collections are winners and over the past few years there have been fewer and fewer of them. I'm not sure he has to focus to do a brand like Dior properly, though he certainly has the vision. Jacobs going to Dior is not a terrible idea, I'd rather him than the mess Galliano had been doing, though it certainly is a bore.
Of course it should be noted that Jacobs is the last choice after Alaia, Ghesquiere, Alber Elbaz, Hedi Slimane, and Haider Ackermann didn't work out.
Stranger still is the option of Philo doing Vuitton. As others have mentioned, why would she want the extra work load? And also as others have mentioned, why jepordize the immense success she's had with Celine? She's worked a miracle there, I would leave a good thing as it is.
Seems like Arnault has had a few big decisions on his plate, including the hiring of Humberto Leon and Carol Lim to design Kenzo. In a couple of years we'll see how it all plays out.