If anyone tells you it isn't about the money, it's about the money.
But let's talk it at face value. What is it about? Exposure. Well, how much exposure does BYU get on a pre-Xmas bowl game that no one watches? Does the Emerald Nut/Kraft/SF Bowl increase BYU's exposure? It's only a minor upgrade from the NM Bowl, and this year BYU would face a team like 6-6 Arizona St or 6-6 Clemson in it. If BYU plans to continue 10-win seasons, how is facing a team with 4 more losses beneficial?
I am not arguing to stay in the MWC. They have terrible bowls and terrible TV deals. I am saying that BYU should be looking to join an AQ conference when the opportunity arises if they can't get better bowl deals than this.