This 1000x. Does UConn basketball have value? Yes, it does. But the basketball value isn't enough to offset the negative value of its football program. ESPN/Fox won't pay a single cent more for adding UConn FB to a conference, but the conference membership will go up by one diluting the payout to every other team. It's a net negative for the other conference members.
Not only does it dilute the payouts to the conference members, but it dilutes the limited northeast talent pool of FBS caliber players. Dragging another middling northeastern school into the P4 is repeating the same mistakes of 20 years ago and expecting different results. There's not enough football talent in the northeast to feed Rutgers, SU, Penn State, Pitt, and BC. It's not a coincidence that our best years came when Rutgers sucked and UConn was in the Yankee conference. Having UConn trying their hand at football in a power conference would be bad for Syracuse, bad for UConn, bad for whatever conference they join, bad for ESPN/Fox, and bad for the other northeastern teams.
UConn tried the P5 football thing. It didn't work out. They should focus on basketball, which has a positive net value for them financially, and drop to FCS for football.