You say that programs such as BYU, Boise State, Houston, UCF, etc are "widely considered deserving of power conference inclusion". That's just not true. Fans of those programs certainly think it. A broadcaster here or there might occasionally say it. An administrator of one of those P5 teams or conferences might sometimes say it - but usually just to be nice. They don't really mean it.
The whole P5 power structure, from teams to media to fans, looks down on those not in their club. Look how quickly the SLC media changed from saying "BYU and Utah absolutely deserve to be "in" with the power programs" to saying "BYU just doesn't belong".