All logical common sense points. Ironically, the conference of geniuses have proven themselves to be immune to common sense, if nothing else.
Don't underestimate the influence of ideology in the decision making of the Pac 12-3. IMHO, "academics", with respect to their importance to the Pac and the Big 12's lack thereof, has always been meant to be a loaded term and a nicer way of saying, "we will not be associated with those backwards hillbillies in the truck stop conference, no matter what, period."
The elitist brass know a large portion of their fan base uses those terms regularly, and they feel the same way. In that sense, Pac country is pretty unified. Arguably, it's one of the top ways, and perhaps only way, that conference is unified. After reading so many comments from their fans and piecing it together with what media and administrators have said, I get the sense that they really do view the totality of our existence in the Big 12 as something akin to a Nascar race/Trump rally/Joel Osteen worship service.
Yes, at some point the rubber meets the road financially, but I think we don't fully appreciate how high that bar is for them, and the lengths they will go in order to stay true to "academics". I really do think decision makers would seriously consider just about anything to save face on this point, in their opinion, and they would have a significant degree of public support from fans and alumni in doing so.
We can and should find this deeply offensive as ISU graduates, fans, etc.