The only reason BYU might have more losses as an Indy is because the schedule is harder.

The only sport that has been hurt by the transfer to the WCC is basketball, and that's becoming debatable as the MWC continues to drift downward in strength. Baseball, soccer, cross country etc are all as good or better in the WCC.

Controlling for equal records, BYU is far, far more relevant nationally as an Indy than it is saddled with a G5 conference label. You want to know what nobody cares about nationally? Who the MWC champ is (or was).

Being Indy will, in fact, help to get into a P5 conference if for no other reason than there will be no issues with grant of rights etc.