The MW has been vocal about only looking for a FB only member to round out membership and the fact that they have had FB decoupled from their Olys all these years allowed them to make this kind of a move. I expect FB to follow into the MW at some point, after they expand their stadium. There aren't many FCS universities that check all the metrics of FBS, but they are one of them. Lots of folks on twitter are dragging the MW for this addition but it's a good add for that conference.
That said, I'm not dooming over this news. Facilities have always been our biggest hurdle and we're not going to get an invite anywhere until the stadium is addressed. Even before that, a head coach needs to be hired and that will be the true tell as to where our FBS hopes sit at. An MBB hire will be coming in a few months as well, which will also be another indication on where this all sits.
I don't have a problem with how Dr. Wood has played his hand so far. Keeping the "formal" ambitions on the Pac tampered down and having an axillary group like the Sac12 working potential supporters was the way to do it. No one was going to show up at our doorstep and drop off a bundle of money to make anything happen, the only way is to get a PR campaign going. He put his name on the line and only a fool would do so with no backing. It could all just be smoke an mirrors, but we've gone over some of the moves that indicate that this is more than a dog and pony show.
My only knock on Dr. Wood is the lack of transparency on the Well status, and an update on the stadium plans. It would be nice to know where we are and when the anticipated finalization of the plans are. An update on the stadium funding would be nice, but I get why those aren't being discussed, especially if private monies are in play.
Regarding the PAC, they are still trying to cobble together a media deal that will be big enough to poach an AAC school (which has SMU exit fees to use towards paying members to stay). If the money doesn't materialize, they will be in scramble mode as the MW has been picking off potential membership targets and all FBS targets are off the table with the exception of Texas State/low level AAC members. The PAC also has litigation with the MW that will drag on, unless the MW decides to settle (but why should they?).
IMO, Dr. Wood has through the spring to get the stadium finalized. If it falls through then it'll be status quo for Hornet athletics for the foreseeable future.