Winning the MAC regular season title still means something. Obviously the goal is to win the tournament and get the NCAAT bid, but having a consolation prize of guaranteeing yourself an NIT bid is a plus. It's not the NCAAT, but it's still a huge step up from the CBI or CIT.
Edit: I doubt we'd even accept a CBI or CIT bid if it came to that as we're such a senior heavy team. If we fail to win the MAC regular season title, odds are it'll be win the MAC tournament or no postseason play.