I don't like it because it won't make Pitt a stronger athletic program, but I understand it's all about money.
Basketball it does make some sense. Pitt would be an upper level basketball program in both the Big East or Big Ten, so it really doesn't change that.
But it hurts their football prospects because they won't be a team on par with Iowa, Ohio State, Penn State, Wisconsin, and potentially Michigan when they get things back on track in a few years. In the Big East, they stood a chance to win the conference and go to a BCS bowl game, while they'll never have that chance in the Big Ten.
And I'll miss the Backyard Brawls.