I think dropping to FCS (D1A) is the right move for the entire MAC. Never gonna happen, too many schools (and fans) have delusions of grandeur of winning the "Joe's Towing Bowl" against Tulsa or Rice.
Dropping to FCS without other regional teams dropping down would multiply the travel budget. There are two FCS schools in Ohio, Dayton in the Pioneer League (teams in Florida and California), and Youngstown State in the Pioneer League (with two schools in North Dakota and two in South Dakota). That's a 15 hour drive or a 4 1/2 hour flight.
In Division 2 you're allowed 36 full scholarships. I don't know how many we have, or how many drop off after this season. There are 9 D2 football programs in Ohio. The question is, if it came to that, would you choose Division 2 football? Or no football at all?
President Gary Miller blames the COVID virus for this, but I think we all saw it coming years ago.
Some links.
Affirming Our Promises in the Post-COVID World
The Beacon Urinal's front page article