You know, every now and again, I have this thought exercise of "What would have happened if Miami never left the Big East?"
One could make a credible argument that Miami, and Miami alone, was responsible for all of conference realignment.
During their time in the Big East, they finished in the AP top 6 seven times in thirteen years, with two of those years being the AP #1 (they haven't finished AP top 6 since joining the ACC by the way).
They were truly the anchor program of the Big East, and the conference had a strong football brand (VA Tech under Beamer, West Virginia, etc). Losing the anchor is what started the dominoes to fall. Once the Big East started to crumble to make this contrived "P5", it was the beginning of the end for most major conferences (including the PAC12, apparently).
If Miami said no, I truly believe we wouldn't have the mess we have right now. The fact that they haven't finished in the top 5 since then is my only true consolation...