Hansen gives a slight nod to the fact that UofA alumni are heavily concentrated on the West Coast, but it is a major matter. The University's visibility to its alums in the major Pacific Coast population centers is of enormous importance to University for find raising and other purposes. Trading our association with Stanford, Berkeley, UCLA, U-dub and the 6 other prestigious schools in the league for the Big 12 schools (Texas is the one exception) would raise a huge stink in a lot of circles.
And as catnaz says, trading a trip to Stanford or the Bay or Stillwater? Seattle for Waco? Willamette Valley or Portland for Manhatten, Kansas? Tinseltown for Morgantown? Even Boulder or Salt Lake for Lubbock or Norman? Sure, Ames, Iowa is better than Tempe, but you can't have everything.