I’ve wondered about this too. Holmoe also was a head coach in the P10. There is no way he is blind to any of this regression.
Just from a personal or professional perspective, consider this:
He has worked extremely hard to even schedule games for a decade. He maintained great relationships with B12 contacts. The goal of joining the Big Table was finally reached. And now this? Part of him is probably furious. It’s like remodeling your home only to see it abused and neglected by those in charge of daily maintenance.
I hope he exerts some much needed pressure for change. Otherwise next year will only display further disappointment, even embarrassment.