Between BYU, Boise, Houston, Memphis, Navy, UCF, USF there are 6+ teams that could be ranked at any given time (not all at the same time). Cinci, Temple, Tulsa, SMU and ECU have each had occasional good seasons over the past 10 years and could each threaten for a ranked year here and there.
I think the League would consistently have 2-4 teams ranked. This is on the same level as the Big12, Pac12 and ACC over the past 10 years. If you can have 3 or 4 teams ranked, thats is very competitive. It would be worlds above the MWC (without Boise of course) and the other G5 leagues. I think this distinction in level of play would help in securing that G5 NY6 bowl slot more often than not.