Agree, that's what they were trying to do. But I think that was absolutely the wrong play, strategically. Just having the better teams overall wouldn't have provided enough incremental money to make the jacked up travel costs make sense. It's no wonder Memphis, Tulane, etc didn't go for it.
Maybe they could have done like a nationwide "other guys" conference merger or alliance where they have like 24-30 teams, but not have very much cross travel from east to west.
At this point, if I was running a G5 conference, I would be trying to get them all together to make our own football playoff. Take the SunBelt, MAC, CUSA, BrokePac, American, pull out your best 8 teams at end of year, and do a thing. Hell, you could TRY to keep your top rated champ in the CFP, and still do a 8 team separate playoff. Might get you $1-2M per team, which isn't insignificant for those schools.