If markets mattered for the G5 the AAC and MAC would be the main players. Brands and perceptions matter. Who will casual fans in Los Angeles, Chicago, Atlanta, Dallas - and Phoenix, Las Vegas, and Honolulu and Denver and Seattle and SLC, etc. - watch?
It's foolish to not consider the recent past as an indicator for the future. History shows no indication that Chicagoland fans watch NIU...(and NIU is 1.5 hours drive away...on a Sunday morning).
Likewise, the recent data shows that fans in Las Vegas, Phoenix, and Honolulu are more likely to watch Boise State and Gonzaga than UNLV, GCU, or Hawaii.
And, recent history shows that the media players that will actually be bidding on the PAC 12 contract...and considering whether to renew the MWC contract...like Boise State, Washington State, Oregon State, and Gonzaga...and haven't seen good results from the MWC leftovers and add-ons...including UNLV and Air Force.