There goes Hartford. Best of luck to the University. Nothing wrong on being conscious of your expenses and making a decision to improve your academic stature - It is a University first and foremost after all.
I think we will see more universities choose this route in the future. It's all part of Division I reaching its natural equilibrium. Only those schools that can spread the costs across a large student body will be able to remain in Division I long-term - unless they make a profit running the programs.
I think large state universities like Stony Brook, Buffalo, UMass, UConn will always be safe. Mid-sized like UAlbany, Binghamton, Maine, UNH, UML, UMBC, NJIT, UVM should always re-evaluate every few years whether it makes sense for them to bear the costs of Division-I. The privates are even in a tougher situation and must do the right thing for their University