Several reasons.
One is what I heard about the experience from Cyclone fans who went to the Pinstripe when we played Rutgers there a few years ago, primarily the expense.
Another is the uncertainty of the weather.
Another is the opponent; BC is technically a P5 team, but doesn't have the profile that Memphis does this season (ranked in Top 20 now).
Another is the proximity of Memphis; we're driving.
Another is that the bowl has a higher profile and will get more national attention. I don't know how the payouts rank, but it's on ABC on Saturday, the logical start to a day of bowl-watching that would include the Orange and Fiesta bowls. The Pinstripe is in the middle of the week along with several other ho-hum bowls.
Another is that it's not going to conflict with any family Christmas plans.
Don't get me wrong; the Liberty was not my first choice, and playing the home team is a sucking situation. I'd switch places with Kansas State in a heartbeat. But I much prefer ISU's draw to Iowa's this season -- something I don't think I can remember saying in the past.