If BYU truly believes they are a P5 deserving of a P5 conference then they should not settle for anything less. Going back to the MWC is not the rosy scenario guys like Monson or Jason Buck are making it out to be.
People often forget that independence is what makes BYU more attractive than other teams for P5 conferences thinking about expansion. They don’t have to worry about paying a huge exit fee or deal with an imposed waiting period.