If we get into a P4, we’re far more likely to make the cut in a future reshuffling. We would leave BC, Wake etc. in the dust.
are we though? I don't see us in any better position than Wazzu and Oregon State. Their brand/stock continues to drop, and pretty soon they'll be firmly entrenched in G5 perception/status. The public will struggle to remember that they used to share the stage with USC and Oregon.
Basketball has already been shown to NOT move the needle enough. That's the only card we have, and it still doesn't get us in.
I have no reason to think it would
keep us in, if the ACC fell apart (choosing ACC because its the P4 that seems most likely to collapse).
If our football continued to ascend aggressively as a P4 member (let's say ACC), and basketball stays on fire, then that's a diff story. A P3 might see the value there. But BBall alone, and football consistently mediocre could very well put us in a AAC 2.0 situation again. By then, I doubt the Big East lifeboat will come around again. Maybe the Big East is gone by then.