I completely understand the frustration of the UConn fans here. I would agree that Wake Forest is not worth 10 times as much as UConn. The core issue is that the ACC probably *is* worth 10 times more than the AAC from a TV perspective. The fact that Florida State might be worth $100 million per year while Wake Forest is worth $5 million per year yet are paid the same is (as others have noted) based on the choice of the ACC to distribute TV money equally.
You can see a real-time annual corollary to this in the English Premier League TV distributions. When a club gets promoted, it immediately reaps exponentially more TV money than the prior year when it was in a lower division. Likewise, when a club gets demoted, its TV revenue ends up getting slashed to a fraction of what it received previously (albeit the EPL does have a system where it "smooths out" the reduction over a period of years). Nothing has really substantively changed with those clubs except for their league membership. So, is the club that was just promoted really worth 10 times as much TV-wise as the club that was just relegated? Well, if you're just looking at the value of those clubs individually in a vacuum, the answer is no. However, if you're looking at the value of the overall product that they're a part of (the entire English Premier League versus the entire lower division), you would certainly say that the EPL overall is worth 10 times (and really much more) than the lower division, so the bottom of the EPL receives that benefit.
So, Wake Forest is getting the financial benefit of being a FSU punching bag in the same way that newly-promoted EPL clubs get the financial benefit of being a Manchester United or Chelsea punching bag. The P5 has subscribed to the equal sharing of TV revenue concept with the exception of the reservation of 3rd tier rights in the Big 12... and it's not an accident that the P5 league with the most internal acrimony happens to be the Big 12. With the equal sharing concept pretty entrenched at this point, you're going to see this massive gap between the lowest tier P5 schools and the best G5 programs just as you see the TV revenue gap between the bottom 4 EPL clubs and the top 4 lower division clubs. They're getting paid within the context of the respective values of their overall leagues as opposed to what they are worth individually in a vacuum.