No doubt about it.
It's unclear how much better the strategy would have been if the bulk of the good products (ND, Rutty, Boise, C-7 good teams, Ville) were still here to show to the large population bases. You can't show large population bases mediocrity and expect a lot of people to buy into it.
However, in the spirit of being the guy that looks at the glass as "1/4 full", I see an opportunity for UConn here. In football, these are teams that we can beat, and in many cases, teams that we should beat regularly. Putting up large win totals in front of large population bases can't hurt our image, especially with recruits from those cities. It would be like the "Boise effect" but doing it in New Orleans and Houston instead of Fort Collins and Colorado Springs.
On the basketball side, it could have an even greater impact. We're already a household name, and I expect that we will see many 25+ win seasons in this league. The inner-city basketball recruits in all of these large population centers will continue to be exposed to the UConn brand. I believe that UConn bball will still be able to thrive and remain a "blue-blood", even in this new crappola situation.
Those are my thoughts. The money sucks. The teams are alright. The short-term opportunity is there for the taking. Time for UConn to take it...