It's a nice way to talk ourselves into believing we're viewed as a P5, but most fans outside Utah (or the church) don't view us that way. In their eyes, we're a legitimately good G5, much like Boise, Cincy, UCF.
And the conferences treating us as P5 do the same for Army, which gives some clue of how they view us. I do think our independence is more meaningful than Army, but it might be closer to them as it is Notre Dame's status.
It's been a good experiment, but if there's a good conference association, we should be open to it. At this point, that's not the MWC, and the AAC geography make it a bad fit unless we go football only. If we can't get football-only into AAC, I support remaining independent, but do think that would be an upgrade