I stated an opinion. You confirmed the opinion. What was silly about the post?
Going a little further, let's talk about the business decisions. The athletic department's goal is to make money, but it is bound by regulation-- namely, Title IX. For every scholarship in a men's sport, there needs to be a certain number of scholarship's in women's sports. Therefore, you've got a requirement to invest in women's sports.
If you take for granted the notion that women's sports are sinkholes, then the best you can do is to minimize the loss. But you should never completely give up on making a profit. The situation in ISU volleyball is actually one of the best chances you have at ISU to make a return on the investment. ISU has a high-profile coach who has taken the program to a high level in a short amount of time. Fans are taking note and are investing themselves into the program. In order to continue the success, additional investment is needed to 1. retain the coach, and 2. get her the talent needed to compete for conference and national championships. With success on the court, additional revenue opportunities arise.
The alternative, of course, is to not invest in the program at all, watch your brand recognition circle the drain, and continue to lose money while receiving zero benefits from the program at all. Your choice.