I think that's a pretty harsh, unfair critique of the Lady Vols program. In the same way that all-female schools and women's organization are a critical component of feminism and empowerment for women, by creating safe spaces that reflect and celebrate the power, capacity, and strength of women, I think the Lady Vols program played a really important role in advancing women's athletics and women generally. While one could argue about its need/impact today, versus potential disadvantages, you definitely cannot dismiss the historical importance of the "Lady Vols" signifier. The Huskies have taken a different approach, but it's not the only approach to advancing women's rights and the movement.
The choice of keeping it is clearly a decision based on recognizing the momentous impact that a powerful women, Pat Summit, and the amazing women players, from that program had. Even if you disagree with the decision, to not recognize those reasons and attribute s e xism to the decision is really inappropriate.