If I'm attempting to valuate a for profit company traded on the stock exchanges, one of the first things I'm looking at is actual profits. Syracuse has far more cash flow than other companies (programs) with much higher revenues. I don't know how the Wall Street Journal justifies that aberration when ranking Syracuse so low. Is it merely because they don't think Syracuse's market justifies a higher value? If so, they are putting feelings ahead of data! Which kind of invalidates everything they are doing here.
Besides, Syracuse isn't huge, but it's estimated as the 88th biggest television market, with a population of 871k. It also is a 4-5 hour drive to at least 5 really major population centers.
On a related note, Gross was kind of ridiculous in a lot of what he did, but his push to rebrand Syracuse as "New Yorks College Team" was one thing I wish that had continued after his replacement. If the college realignment powers that be give us even a partial share of credit for NYC TV when the chairs stop moving, we'll have a much better chance of being in one of them.
Of course, having winning basketball and football programs matters more...