I'll preface this comment by saying that if we were going to the B12, then I'd take it as well.
UCF has had years of systemic success on the football field, and are reaping the rewards... maybe.
TCU? Do they still play football? The struggles of WV have been well chronicled since they joined the B12 due to them being stuck out on an island. They have virtually been relegated to irrelevancy. Now, a bone has been thrown their way with the addition of UC. Guess who is now out on the island 1000 miles away from the nearest conference mate? Could it work? Sure.
But then there is UT and UO leaving. The B12 without them is on par with the ACC. Who are the juggernauts? Baylor, OSU, KSU? Baylor did win the NCAAB, but let's not fool ourselves, this is about football. UT and UO left because the rest of them were not elite. The TV revenue would have been slashed to levels closer to the AAC than the P4.
So what is this about, then? This is a flailing B12 desperately trying to hold onto their P5 status by creating as much distance as possible from the AAC, whose status was on the rise. So instead of B12 improving their brand, their strategy is to dilute the AAC. Will it work? Maybe in the short term, but this is the Big East 2.0, gasping for air after VA Tech and UM left. We know well how that ended.
No back to UCF, they peaked 2 or 3 years ago. Now they have to sustain. Can they? We'll see. But now they will get marginally more TV revenue, travel expenses will go up considerably, and they will have $10-15 buyout owed to the AAC. That would be a calculated risk if that's were it ended. But the legacy schools know that the B12 trajectory is headed in the wrong direction. They all think they are worth more and will be looking for greener pastures. What happens if the PAC12 or B10 goes after Baylor, OSU, KSU? They would jump in a heartbeat leaving UCF in no man's land with less revenue and astronomical travel expenses.
We'll see what happens, but it's not a forgone conclusion that this will be a good move for them since the B12 is a shell of is former self. Joining declining conferences has yet to work out anywhere that I can remember.