I'll make some points here:
If you applied the same argument of BSU being more deserving of a P5 bid than CSU, CU wouldn't have been invited to the Pac-12. CU's fit for the Pac-12 was where it mattered the most. Just think like a college president here for a moment. You would prefer the best academic fit within the conference and CSU would most likely get that P5 bid before BSU does. BYU took themselves out of P5 consideration with that 1992 credo. If you look at the map from Colorado to the west coast, only CSU, New Mexico, and possibly Hawaii are rated "Very High Research Universities" by the Carnegie Foundation. Maryland & Rutgers wouldn't have been invited to the Big Ten either if it came down to football success. CSU will get that P5 invite before BSU not only due to academics but other factors such as TV market, geography, etc. Boise does not have the TV market to support a P5 school and once they become medicore, their fans will watch other P5 schools instead.
Remember BSU was a FCS school 20 years ago. What they did in 20 years were impressive but let's not just give them a P5 invite just yet. Getting the academics up to par with P5 schools is a much longer process than getting up to par in athletics. If BSU was to get a P5 invite before CSU, we might as well give North Dakota State a P5 invite while we are at it.
If the Pac-12 looks at Colorado as having great potential like the Arizona schools in the past, there is a small chance the Pac-12 invites CSU down the road. New Mexico, if they are serious enough, could be invited along with CSU and in this case, Utah gets sent to the North division. Then that will be pretty much all those "VHRU" schools in the west being in the Pac-12.
And before you throw those tomatoes at me, think about the likehood of CSU joining the Pac-12 as being close to zero at this point.