I think this still misses the mark because there is a significant market for basketball in urban areas of NY, Hartford, Bridgeport, DC, Philly, Newark, etc. that have long term connections to the Big East and other major hoops powers. Auburn vs. Old Miss is not really a substitute in those markets. Remember, not all the ESPN games are national, they may show a BE game to us and something else to somebody else.
I'll say what I said all along. The Big East basketball product is uniquely valuable to ESPN, because it provides so much quality content, with appeal in large markets, and ESPN has the channels and internet streaming to take advantage of it. I think Big East football is entirely superfluous for ESPN. It would be a waste of money for them to buy it. All it would do is replace better football content on at the same times, for which they already have the rights. Now there the analogy fits. Rutgers and UConn is entirely replaceable by any two D1 teams. That football content is uniquely valuable to NBC, because it is trying to get in the college football game and everything else is taken.
But the Big East loses big-time if basketball is not on ESPN. They need to find a way to split the rights and keep hoops on ESPN.