G5 advocates are complaining that we're a square peg trying to fit in a round hole. Here's the thing: G5 is a round hole too. It's just a smaller round hole.
The MWC is not a good fit for us. Few of them are our peer institutions, academically or athletically. You could argue AAC is a closer fit, or point to the WCC as a counterexample. But the fact is our peers are the P5. As long as there's any chance of getting to where we belong we should position ourselves as best we can for it.
There's always time to admit defeat after there's no hope left. But there isn't anybody who thinks the current FBS configuration is permanent. Realignment and/or radical change in media models is coming sooner or later. Backtracking to what worked in 1999 would be shortsighted.
"Utah looks better than us. Let's get real for a second, after seven straight losses they are better than us. Being an independent gives us a couple of flashy weapons to throw out like more exposure and closer revenue dollars, but beyond that we are drowning. We are ranked 92nd right now per teamrankings.com. NINETY FRICKIN SECOND."
If we had stayed in the MWC there's no reason to think any of this would be different right now. Except for the part about having less money and exposure... After all, it's not like we never had down years in the MWC. 2002-2004 are calling on the phone to tell us how being in a conference guarantees winning seasons and happy fans.