Games like this one keep a lot of fans around. Ever since the move to the ACC, I personally know a few fans who barely watch anymore. They just aren't interested in Syracuse being an ACC team. Obviously, they are not the best fans like most of us, but they are the fans that make up those opposing arenas we occasionally take over. They are the fans who go to Cuse once a year, buy tickets, buy some merchandise and stay involved in Syracuse University. We lose too many of these fans, we are just another program. I can tell them the Big East is dead, ACC is the future, etc... but they don't care, they just want to play geographically relevant teams that we have a history with, and I get that. Who wouldn't???
Growing up in CT, all your friends went to a Big East school so when your school played their school, you have an excuse to get back together, go out, get out of the house and throw back a few beers. That is all but gone now, and these games help to keep a lot of interest in that older generation of fans.
Eventually we can do away with these games when the younger fans grow up on the ACC, but right now we would be alienating a pretty significant chunk of the fanbase.
Edited to add: Plus, it is UConn!? Who doesn't like kicking their ass on the court??? These games are fun and that is what sports is supposed to be all about, isn't it? I'm sick of this conference makes more, this TV network is better than that one, etc.