Adding Memphis, USF and Tulane may be good for a couple sports, but overall it's not a great move financially. A USF v CSU game is as dumb as USC v Rutgers. There is little to no history and never will have a relevant history. So, I think they should have just taken the 11 teams and called it a day.*
Be THE western conference. Own the college football tradition. Make it easier on the student athletes to travel (yes, I know that planes exist).
The MWC already has a TV contract. The PAC does not.
*If they thought that Stanford and Cal would consider coming 'home', then leave openings. The fact that they took USU (and possibly Hawaii) shows that they are now desperate.