Certainly this tactic is to save money first and play quality opponents second. NMSU, UTEP, and UNM travel some loooong distances to play conference games.
Distance is relative out here, though (like Tuscon is considered "the next town over" from us and it's about 100 miles). But if you are in West Texas, New Mexico, Wyoming, the Dakotas, etc. there is no such thing as a good travel schedule.
New Mexico State needs to bribe some people and somehow get themselves into the Mountain West Conference. Being stuck in the WAC with schools like GCU, California Baptist, UMKC, UT Rio Grande, and Chicago State doesn't do them any favors.