The Big East already has an automatic bid and it isn't even close to losing it. Adding TCU wasn't necessary to keep the auto bid, but was necessary to get the conference bigger and make it easier to fill up a full season schedule (7 conference games is just awful and requires each team to get 5 non-con games a season, which is difficult). Plus with TCU there is no chance it loses an automatic birth anytime in the next 5 seasons. Keeping the basketball only schools has absolutely zero affect on the whether or not it keeps its automatic birth.
And frankly if you don't think Syracuse and Connecticut can't bring you the New York and Boston markets, I have some lovely ocean front property to sell you in Missouri. You seem to be forgetting that St. Johns is the only team in either of those markets, and no one watches St Johns basketball anymore. Yes, they would lose Georgetown and its Washington presence, but that is more then made up when you add Houston, Memphis, and Orlando (in addition to Dallas/Ft. Worth). Villanova is a solid draw in Philly for sure, but you still have Pittsburgh, Rutgers, Syracuse, etc. that have decent fan support in the city.
The reality is football is king. It is where the money is. Very few schools at the FBS level make more money in basketball then in football. In fact I believe Duke is the only team that consistently does. College basketball numbers on tv have been going down for years all while football numbers are going up. Football is the money maker and everything is centered around football. Football will drive the teams in the Big East that play it, and it always will. Look at all the conference moves, they are almost all centered around football. Basketball takes a back seat. It is why schools like Kansas were never mentnioned in the expansion. No one wants a basketball school.