PSU also has Maryland and Rutgers. In addition to the yearly gauntlet of MSU, Michigan and OSU. Im for the rivalry continuing because I dont like schools like Idaho on the schedule, but dont act like PSU doesn't have its share of intense regional rivalries outside of Pitt.
It's a fact that PSU lacks a real rival. Without touching the reason for that, it's just obvious on its face. OSU and Michigan are each other's rivals (Michigan also has MSU but MSU lacks a secondary rival). Their fan bases do not care about PSU in the slightest. Those teams treat PSU with the same contempt that PSU treats Pitt, and the thrashings PSU receives at the hands of the Buckeyes and Wolverines (losing about 70% of the time to those teams in the past 20 years) probably helps to explain why neither OSU nor Michigan take them more seriously.
Maryland is a historic joke of a football team, this year notwithstanding, and their fans would prefer to be back in the ACC. They want to play their polo-wearing genteel brothers and sisters from UVA and UNC, and will never care about PSU. Nothing needs to be said about Rutgers other than if that's who you wish to be your rival, go for it.
So this brings us back to why PSU should schedule Pitt? Cui bono? Personally, I think it would be better for PSU than Pitt. PSU would get to play a real rival, an in-state team with an existing historic animosity. It would save PSU from trying to create rivalries with OSU, Michigan, Maryland and - LOL - Rutgers that are never going to take hold in peoples' minds the way that Pitt does. I'd also add that PSU would probably beat the p*** out of Pitt more years than not, helping them to lock up even more players from WPA, and giving their fans a better claim on being the Commonwealth's best institution of higher learning. I suppose that it might cost some money but I think that a $1m shortfall every other year in a massive university budget is a drop in the bucket to give your fans something to cheer about 365 days a year. At minimum, PSU should probably play Pitt at least every 3 or so years. This would let them continue a historic rivalry while allowing PSU to travel elsewhere for games (sidenote: I've lived in Alabama, Texas, Nevada, and Georgia and can count on 1 hand the amount of PSU alums I've met in those places).
Pitt, respectfully, does not need PSU. We have historic rivals that we do play every year in VT, Miami, and Syracuse, historic rivals that we play often in ND, and historic rivals that want to play us in WVU. And while it feels nice to have spoiled Franklin's 2016 season, we'd lose to PSU 75% of the time. We really don't need to get our teeth kicked in AND suffer their fans every year. Playing PSU and dealing with their fans is downright miserable. Play ND or WVU every year and let's move on from this charade.