I've been pounding the table for a while trying to advocate for this take to become widely acknowledged and understood:
The new Big 12 has survived and arguably thrived (as a viable overall product that has inadvertently fostered the best environment for major conference basketball) not just in spite of their lack of blue football bloods, but precisely because of it.
Michigan is not the basketball job it appears on paper for the same reason Texas and OU aren't. At these schools, Basketball will NEVER be king under any circumstance compared to perennial CFP title runs.
That feeling permeates everything, from the boosters to the fans to the players and even down to the coaches. It's a burdensome curse when you take those jobs. Even final four caliber teams will never amount to more than cute little also-ran stories and a fun little distractions and pass-times until football season, at best. At worst, they are an EASILY written-off afterthought.
It's very difficult to quantify compared to pure dollars, enrollment, facilities, etc. But I think it's easy to find evidence this is a real thing. Michigan, Ohio State, FSU, USC, ND, Clemson, have all been perennially snake bitten by this problem and guys like TJ should stay a million miles away. Give me a Villanova or even Marquette or Creighton any day of the week.
Not even football crazy Big 12 Texas schools like Tech, Baylor, and TCU have the "luxury" to put all their eggs in CFP Natty basket. Consequently, basketball gets more play by default. The realistic more humbled football expectations for those fan bases foster a much more egalitarian environment for the conference as a whole, as well as their respective basketball programs. It doesn't always correlate to money, but it DEFINITELY correlates to quality depth and diversification.
This is even a bit of the same problem for the football programs at Arizona, UNC, Duke, and KU. Football is a lot tougher to ignore when things are good because this is America and football is king, but I think elite football is more the rare exception than the rule/expectation at those schools for the same reason.