Basically they were talking about how weak the G5 is compared to P5.
Host 1: "Yeah, and now you've also got some of the best G5s going to P5 now"
Host 2: "Exactly, with the Big 12 taking Cincy, UCF and ...umm Houston, and then...whoever that 4th one is, the gap is even larger.
Host 1: "Man, who is that 4th team?"
Host 2: "...(looking it up) oh yeah, it's BYU"
Host 1: "ok, yeah, so like I said, that's four of the best G5 teams, so the P5/G5 gap is going to be even larger.
On the positive, BYU is seen (even here) as one of the better G5 teams and good enough to increase the gap by moving to P5. On the negative, BYU is (despite independence) seen as currently a G5 team out here and is apparently less memorable as an expansion option than UCF, Cincy and Houston.
Think this could be that the other three have been (at various points) at least potential options for ACC expansion, whereas BYU is a geographic non-starter, but was still disappointing to hear us viewed that way by folks who should know better.
NOTE/EDIT: Because people are thinking this is my opinion, let me assure you that it is not the case. Just mentioned that yesterday I hadn't heard anything on the local sports talk station because they're so freakishly insular. And then today I did, so I'm sharing what was said. I'm in complete agreement with you that it's ridiculous for them not to know off the top of their head.