"To me, there's only one school out there that's worthy of a P5 invite...BYU. They would fit pretty well in the Big 12, but there's no one else to balance the numbers. Even then, BYU is not a dominant force in the ratings. You really need another school of even higher quality to make the move worth it."

ATU, appreciate the view.
As you know, BYU was given serious consideration by the B12 a few years back. Allegedly, BYU was seriously considered for the B12 when the B12 was formed---BYU was preferred instead of Baylor. The later was more the power of Texas politics. The former, but more recent, was formidable resistance to BYU's unwillingness to compromise on certain institutional policies based on religious doctrine. Not to debate the issues, but the result was no-go

Nothing has changed. Thus, there is no partner to find for them, at least anytime soon

I don't believe adding UCF and USF would hurt the B12. The B12 has wanted Air Force. Colorado State, maybe New Mexico, are worth considering again. I doubt adding Cincy and Memphis or even Houston would move the B12 needle.

Agree, the great names are already in the P5. It's a matter of finding schools with good potential and develop their profiles and programs. Doing nothing sitting in stagnation is the B12's choice. OK, the consequences may somehow be grandiose. However, I'd fall on the side that it ultimately proves foolish. That's speaking to the B12 as an organization. Certain individual schools will have good fortune if the B12 does eventually crumble.
It won't last in the form it is today. Give it five years.