The only thing I can think they're trying to say with that assertion is that for a basketball only school, you're getting a much cheaper deal on the media distribution AND that deal will be an albatross once Few retires (he's 62 right now). I think the PAC is overpaying for a basketball only school, but I can't make the math work that GCU will be more valuable in any way.
Realistically, the Zags have might be the best west coast basketball programs consistently over the last 26 years (25 appearances only missing the covid year where nobody had an appearance (they were 31-2 that year and a big favorite for a deep run), 14 sweet 16s, 6 elite 8s, 2 final fours, 2 natty appearances). Arizona and UCLA wish they had their resume.
For comparison GCU has been to the dance 4 of 5 years under Drew, never being seeded higher than 12 and never winning a game.
If you are going to overpay for something, you might as well overpay for the best.