At a minimum it validates another team in the league with a MNC. Helps keep more kids in state, maybe. I think SEC fans think they are a tougher league (top to bottom) because more of their teams have won (and expect to compete for) MNCs. SEC fans feel this way regardless of of the fact that Ole Miss, Arkansas, and Auburn MNCs were so long ago they are almost as irrelevant as A&M's.
Don't quote me on these totals (some of which are paper NCs, yes, I mean you Alabama)
The Link
The Big XII has UT(4), OU(7), NU(5), CU(1), and A&M(1). Obviously TTU, KU, KSU, OSU, ISU, Baylor, and MU have none.
SEC has UF(2), UG(2), UA(11), Auburn(1), Arkansas(1), LSU(3), Tenn(4), and Ole Miss(1). Vandy, SC, MSU, and Kentucky have none.