It only matters in terms of the institution matching the culture of the rest of the conference members. Which means that for a school to fit in the Pac-12 it needs to be research focused in certain academic disciplines. No agriculture or military schools or schools that don't have an emphasis on its graduate programs. Possibly on religious schools, but they'd have to allow full academic & research freedom.When it comes to football/basketball affiliation, why do we care?
Beyond that, I don't particularly care. If a new member isn't Tier 1 but is striving toward it, I figure it will get there quickly with the Pac-12 affiliation. Important thing is on whether it's a cultural fit that would move the needle on the strength and value of the athletic conference.