The church owned dozens of colleges and universities such as Dixie State, Weber State, Eastern Arizona, and more and sold them / gave them up because of the cost to support those institutions. Same goes for many of the high schools they used to run in other countries. I think that history influences the church in its decision-making going forward. Recently, the Church decided to take the University to the members online through its Pathways program. It's similar to the temple concept. Instead of building mega temples and incurring the cost, time and headache of managing them, figure out a smaller, cheaper more efficient delivery mechanism. Pathways accomplishes that. Where there is a critical mass of students, they can take courses online and receive degrees from BYU. That is much more efficient and less resource intensive than building and running a mega campus.

I would love a much larger University in Provo. From what the church has done publicly, I don't see it as probable. But...maybe I'm wrong.