Almost any school, with a P5 conference support, infusion of money, guidance, money for coaching, access to bowls and playoffs.... Would immediately rise in the public's perception of their "quality" program.
Rutgers, Oregon St., WA State, Iowa St, etc etc.....all propped up by conference money and perception.
So, you are right, and I am still right. Vegas would offer more attributes than many of the existing P5 programs. It's kind of inarguable.