On just the capital projects alone - UConn has spent $91 million on the Rent and another $48 million on the Burton/Shenkman training complex for a total of $139 million and that does not include coaches' salaries, scholarships, travel, gear, etc. No way is UConn walking away from that investment. Plus, as I have stated before, recent history points to that the football/basketball power teams will continue to dominate in basketball, too. Since 2000, there have been 60 Final Four slots (15 years) and only 8, or 13% of those slots were taken by programs that did not also play D1 football (Marquette '03, George Mason '06, Georgetown '07, Villanova '09, Bulter '10, Butler '11, VCU '11, Witchita St '13). None of those won the title. The last basketball team to win the title that did not also play D1 football was in 1985 with Villanova, nearly 30 years ago. UConn has to survive in football in order to succeed in basketball.
Technically, we were the last ones to win the title without a D-I program (1999).
Your valid point, however, mirrors everything that Lew Perkins shouted for years until The Rent was approved.