The financial pressures are inarguable

The “open letter” was candid and thorough, detailing the super-sized nature of Stanford’s program, how narrowly competed many of the eliminated sports are, the logistical challenges of being a west coast competitor in many sports and the substantial financial shortfalls.

Your interpretation may have factored in, but it’s a reach to say it’s more important than the financial considerations. If Stanford can’t afford to continue operating the super-sized program or no longer wants to prioritize it for massive subsidies, then all other considerations become secondary in comparison.