There are a ton of other current P5 schools that are complete dead weight. Washington State (now that Leach is gone), Oregon State, and Arizona for the Pac; Iowa State and Kansas for the Big 12; Rutgers, Maryland, and Illinois for the B1G; etc.
BYU might not be the prettiest girl in the room, but they certainly aren't the ugliest. And in any major restructuring, I can't imagine BYU being left out.