So, much like Army or UMass we could find a home in a G5 conference, but not in a P5 conferences. Unless you believe Army and UMass are something special or that Marshall, Troy, and New Mexico St should also go independent, there's nothing inherently better about being independent.
BYU is more along the lines of a Boise - a good G5 team. The fact that we're not affiliated with a conference doesn't change what we actually are on the field.