This is my takeaway, too. The P5 Texas teams (and P5 teams in general, really) are interested in three things when it comes to non-conference scheduling:
- getting a home game to increase revenue
- getting easy wins to maintain bowl eligibility
- increasing their SOS
Scheduling UH for a home-and-home fails to accomplish 2 out of those 3 things as well as scheduling someone like UNT or Rice would, and if a P5 school is seeking to increase their SOS, there are other schools that are better for that.
Texas hasn't played at Rice Stadium since 1997 -- playing that game at Reliant is basically just a way to give UT more seats at what is basically a home game in Houston, and even if you want to count that as a home game for Rice, they've been playing 2-for-1s.
The only G5 school that's really gotten home-and-homes against the Texas P5 schools is, for $ome rea$on, SMU.