If that's how you want to look at it, you weren't in danger of being left for dead; you were left for dead; I don't think it was to that extreme, but I sure could see that from the university's point of view. To its credit your university refused to accept said sentencing. Now you get to join, if not rule, a football conference you used to sneeze at, and rightfully so.
Presuming your performance levels don't drop off, your baseball and football programs should love the Big East. Yeah, hoops will almost certainly struggle for a couple of years, but perhaps by the time you join up, that program will have become more viable, as you suggest is possible, expecially if you're able to get a higher percentage of the state's better talent to give you a shot.
When I was in school, the current set-up you enjoy was the opposite: TCU football and baseball rarely beat anyone, while basketball under The Killer was pretty salty most years. Buddy of mine played for Coach Killingsworth.
Congrats to the university. Sure was hoping for a TCU-Ohio State bowl game--call it the put up or shut up bowl. It's still a remote possibility, isn't it, should the voters & computers get looney on Sunday and move Ohio State ahead of Wisconsin?