The Big East stopped being a relevant football conference after it was raided by the ACC last time, but this is a pretty interesting move. The conference had recently announced its intention to add 2 football teams. Aside from TCU, UCF and Villanova (moving up from FCS) were considered likely candidates.
The Big East was already unwieldy at 16. 17 is beyond ridiculous... and going on 18? I've thought for years that an eventual split between the football and non-football members is inevitable. I don't see what the non-football members have in common with the rest anymore.
OTOH, I get the sense that the football conference is teetering on the edge, bracing against being raided yet again... there's the constant rumors of the Big Ten going after Syracuse, Pitt and/or Rutgers.
Conference jumping/realignment is always about football. The impact on other sports is just an afterthought.