To the OP, I don't know exactly where this idea of being in a P5 conference brings an elitism thing comes from. Probably just a few internet warriors that like to troll, but the vast majority of fans don't claim superiority based on their conference affiliation. In the end, the average fan only brags about wins and losses. Go 3-8, nothing to brag about. Go 12-0, yeah you've got something to talk about.
That being said, it's not exactly a shocker that the P5 conferences in general are probably better than mid-majors and few would be able to argue against it. There are always exceptions to the rule, but the rule probably does have validity. Nebraska sucks balls this year and would probably lose to Memphis, Cincinnati, ucf, bsu pretty handily but the likelihood of having a winning record in the AAC or MWC is probably a lot higher than having one in the Sec or Big10. That's not a slam on any team and I sure as heck wouldn't tout a victory over Illinois more than a victory over UCF, but there is a reason that p5 conferences generally get more respect than g5s.
There's a reason why you guys tout a victory over Auburn moreso than a victory over USF even if they have the same record.