Livin' large tonight!!!
I know it's all about the money, but what is the point of being in a P5 conference if you just cannot compete.
The first clause of your sentence answers your question.
Rutgers is in the Big Ten for three reasons: 1) cable boxes, 2) allow previously existing Big Ten schools access to NJ recruits and 3) to give the previously existing Big Ten schools an auto-win on the schedule.
They serve the purposes for which they were added.
With the unfortunate side-effect of lower the strength of schedule...