38% against P5 is not what a bad P5 team does. A bad P5 gets <10%. BYU would solidly be in the middle of the pack

That's very inaccurate and misjudges what a "bad" P5 team is. Over the last decade, there's only one P5 who has won less than 20% of their P5 matchups (because Kansas is a whole other level of terrible).

With slight controls for schedule, BYU ranks #52/69 in on-field performance against P5 opponents over the last decade. That's exactly in the 25th percentile.

Previously I'd said Georgia Tech and Oregon St are good comparisons, but it turns out GaTech is too good and Oregon St isn't good enough.

The +/-5 around BYU are Arizona, Tennessee, NC State, Ole Miss, Cal just ahead of BYU and Texas Tech, Virginia, Duke, Boston College and Indiana just below.

BYU is absolutely a step up from the Kansas, Illinois, Vanderbilt, Rutgers of the world, but they're also not yet an above average P5