My wife received her Bachelors and advanced degree's from Pitt and lived in Oakland and Shadyside for over a decade while a student and working at the hospitals. She held season tickets all those years. I understand the point is moot to you, but I didn't write the post with you in mind and as you can obviously tell, it's not moot to myself - or my wife (and a large portion of your fan base). I know you'll counter, "There's no space for a stadium and it would cost too much", but it's a moot point (by your definition) - as new stadiums are always being constructed and I think it's a debatable topic regardless.
Pitt may be an urban school, but it's campus is in Oakland. The students live in Oakland. They attend class in Oakland. They go to bars and party in Oakland. The frats/sororities are in Oakland. University sports are all played in Oakland (except the one that really matters), and if you ask any Pitt graduate to think of their college days, they'll think of Oakland - not the North Shore or Downtown.