In the strong baseball hotbeds like Texas, I think the travel ball organization/coach he plays for is the key to getting exposure to the P5 conference schools. At least in SoCal, most of the top talent plays for 5-6 travel teams that get invited to weekend events at the top schools, who then watch the teams compete against each other. My 2017 had a classmate who got recruited to a Pac-12 school his sophomore year through that type of event. There are so many great baseball players in the hotbed areas that the top schools can pick and choose who to recruit early, and the kids who play for the top travel ball teams seem to be a high percentage of early recruits.
Your son sounds like he has a good set-up with the program he is on and the team he plays on. There is no need to worry, but by the end of his Sophomore year he should know if he is D1, P5 material. By the end of Summer after Sophomore year, the travel coach if he is worth his weight should be able to give you a pretty good indication at what level he sees your son playing at.
It's good to aim high at this stage of his development. But the key to all recruiting is continually working to improve and adjust expectations based on the level of interest, or lack thereof. There are lots of kids who dreamed of D1 all the way through their Senior year and then found no options and baseball ended for them. And it is early enough that the better he works in the classroom, the better his options will be!