I agree. I'm utilizing an argument I've heard from others, both hobart alums and some other general lax fans, making the case for dropping back down. Heard this multiple times recently, in fact.
My point is that its completely blind to he benefit of being associated with Michigan and OSU and occasionally beating Syracuse, being on national television a couple of times a year (they've stopped even televising the D3 championship game a couple of years ago). That's worth the associated costs to the school, the other athletics programs and everything else because there's no replicating that value.
While I'm envious of MUCs success and get that anti MUC feeling at times, I recognize that football is their path to institutional growth and success.