Two things. One, the name of the conference matters, not just the schools. Butler and Xavier are in the Big East because, rightly, the powers that be figured that if you called them Big East members playing Big East games, far more folks would watch them than if they were playing MCC or A-Ten games.
Second, each of Houston, UCF and Cincy used their time in the ACC to vastly elevate their programs on the field. Unfortunately, we went the other way.
Look — no one is perfect. If your ant to believe someone else could have done 10% better, fine. But if ESPN got the American for 50% of its real value, someone else would have outbid them.