Yes, they do. It gets them in a BCS AQ league, which they realize their new configuration will never be. It's not ideal for them, but it gets them in the club. Their ranking will be enough to carry us through as it;s an upgrade over WVU. If the 5 schools mentioned all come, BCS bid will be safe for several years minimum. But let's not get this twisted, SMU, Houston, and Boise are all joining to position themselves for the next round of expansion when the B12 and/or P12 decide to expand again.
BSU, SMU, and Houston would leave for a better deal, but it will never be to a BCS conference other than the Big East. We have become the Island of the Misfit Toys. This is as good as it gets for them unless college football blows up the BCS.
Houston will never get into the Big 12. Texas does not want them. They bring no new TV markets, they are not even a second or third tier football brand.
SMU might return to some real status as a football program, TCU and Texas will never vote for them in the Big 12. The rest of the schools would have to see more $$$ to want them in. SMU and Houston will not deliver that coin now or in the future.
Boise State, they can win 7 national championships in a row and the Pac 12 Presidents will never vote for them. BSU academically is so far off the mark. While this is all about $$$, they won't take a school that does not even rank in the top 500ish schools listed at USNWR rankings. BSU is on the regional universities list, ranked 67th.......in the west....behind Alaska Pacific University. There are seven accredited universities and colleges in Idaho. BSU is ranked 7th. No way they vote for BSU. Oregon State is the arm pit of the Pac 12 and it is ranked hundreds of schools higher than BSU.