They do, but the need the appropriate level of cool/hype. Not sure Tool have that any more (hype yes, cool, maybe not)
Still, I think Coachella could do a lot worse than having Tool headline one of it's nights - APC played this year from memory so it's not without precedent to have one of Maynards bands with a new album play.
The new album will be the key - if it's ready for release and/or Tool are willing to playing it at Coachella, then I think it could be a thing.
Yet another Greatest Hits tour and I doubt Coachella would be interested.