Look Texas hasn't won the B12 in football in over a decade, and has only won 3 titles in going on 25 years in the league. I think Baylor has an many titles as Texas does (!).
Before Texas gets all big in the britches about how the B12 isn't good enough and how it needs to be in another league, it should win the conference at a higher frequency that once every other leap year.
The B12 is a fine league for Texas. Traditional rivals in Baylor, TT, OU, and OSU. Similar geographic area as the other teams. Good TV contract, and if Texas ever does get its act together in football, needing only to beat OU, win the conference, and have no more than 1 loss to have an excellent shot at going into the playoffs.