I agree playing 300 plus teams is waste of time. However, I think it is hard to schedule mid majors UNI, DRAKE, etc and get more than 1 to 1 ratio of home game to road games. There is not a lot of upside to going to UNI's place and making their season with refs from MVC whistling. UNI has an odd ball gym.
I'd rather play more P5 teams 1:1 home and away---then even if you lose, you are in better shape vs playing some 300 plus team and winning at home. These games vs 300 plus don't even improve the team.