Maybe I’m missing what the goal is. None of those seven schools in those three states are in immediate jeopardy of losing P5 status based on conference affiliation. UH as a sixth Texas school does not enhance the conference’s ability to remain a P5. In this environment of increased exclusivity we are sealing our fate (if it’s not already sealed). If we are throwing in the towel in terms of remaining P5 then that’s a whole different argument.
Our fate in terms of "P5" status certainly doesn't depend on whether or not Houston is added to the league or not. At least in my opinion. Our fate has already been sealed to an extent. Now it's just trying to create a conference that is as solid as possible, and as good as possible. Whether people call it a "P5" at the end of the day, that's out of the conference's control.
I don't think adding UCF and BYU solidifies P5 status in any way. Same with Cincinnati and/or UCF and BYU. I think you just make the best adds you can to make sure if nothing else you're far and away the best "non P5" league out there and see where that lands you.