It's actually a smart move, don't listen to message board dumba$$es who always talk about "no value" and all that crap, these are strategic moves.
For example, adding TCU serves a firewall to thwart A&M and SEC schools in Texas. It puts another Big 12 school (obviously a BCS) school in state out recruiting against A&M and other SEC schools. It clearly indicates to recruits from Texas that they will have plenty of opportunity to play Texas based teams in a BCS conference and overnight we add a school that's been to more BCS bowl games than everyone but OU and Texas.
It's smart.