No.
You see some version of this pining for a SWC redo on other sites and in comment sections as people wax nostalgic for "regionality" in college football. Let's all remember what regionality did for Texas:
Rampant cheating in the SWC
Baylor fucking us at the lege
TTech trying to fuck us
Bleachergate with UH
TCU, Tech, Baylor turning the Texas game into their annual jihad game
Those same teams restricting tickets for Texas fans into buying multi-game or season ticket packages just for the Texas game
Drafting off of Texas' massive fanbase and TV ratings, while simultaneously complaining about big bad Texas
Texas today is right where we should be, and where we need to be. We're in the top conference, where we get consistently pushed by other blue blood programs. We are still a massive brand but we are one of many peers with Bama, Georgia, Tennessee, Florida, etc. All teams that care a lot about football, and invest a lot into football, and have large fanbases. Getting a lot more money is just a side effect of all that.
Fuck TTech and Baylor in their ungrateful bitch asses. The only time we should play them again is in the playoffs, if they make it.
And BTW we're still regional. We play OU, Arky, A&M, and LSU.