This is a pretty solid lineup for the Big 12. Cincinnati is a good dancing partner for WVU with lots of recent success, Houston helps keep their Texas footprint and creates lots of in-state rivalries. BYU was always a P5 program with a national fan base. BYU will have the largest stadium and highest average attendance in this new conference.
UCF is kind of the outlier but best-case scenario for them and gets Big 12 into SEC/ACC territory.
I think they are going to do just fine and will certainly retain being P5 with this lineup. The AAC fades deep deep into the G5 now though.