It hasn't backfired at all. It has been a big step forward for BYU. And by all measures, you have to admit it. Actually, the mere fact that BYU could go independent at all is a credit to the institution. Most schools could never pull it off. Utah, for example, could never do it. Give BYU some credit here.
Now, is independence the same step forward that Utah was invited to take? No, of course not. Nobody questions that. BYU continues to hope for an invite some day.