Part of me is, why not move to the ACC, that makes more sense! but honestly, the ACC as a basketball school has been a shell of itself the last five seasons.
Here are the conference ranks per KenPom over that time span:
2020: Big Ten, Big 12, Big East, ACC
2021: Big Ten, Big 12, Pac 12, SEC, ACC, Big East
2022: Big 12, SEC, Big Ten, Big East, ACC
2023: Big 12, Big Ten, Big East, SEC, Pac 12, MWC, ACC
2024: Big 12, Big East, Big Ten, SEC, ACC
That being said, the Big 12 is an incredible conference to join for basketball reasons. Obviously, it'll stink not being able to easily travel for away games (I've only been to St. John's and Seton Hall games), but it's an incredible conference and will greatly help the school financially.