If Gonzaga does end up joining the PAC then NCAA credits become a significant source of revenue for the conference. New Mexico isn't anyone's first choice for expansion, but for a conference that already has a strong football foundation (for a G5 league) adding a state flagship school in New Mexico could make sense, especially considering they just made a good coaching hire in football so their is some potential there.
A basketball conference with: Gonzaga, UNLV, SDSU & New Mexico would be a solid league.