Scheduling is often used as a bludgeon by media personalities and fans to be wielded against rivals and their fans. It's a cheap way to disrespect an opposing team if one says they aren't even worth scheduling. Talking and writing about them, sure, but actually playing them is a bridge too far. On an annual basis this topic seems to arise in the Commonwealth regarding Kentucky and Louisville football. To say Kentucky shouldn't play Louisville is a poor argument on several grounds and yet extremes within Big Blue Nation make it. Inevitably the other side's fundamentalists make equally hackneyed claims.
To be direct, UofL has put together a worthy 13 season run in college football regardless of their previous conferences. Now they have an enviable track record combined with ACC membership. What's left not to like? Likewise, despite UK only really being a Top 25 quality team in 2006-2008, UofL hasn't exactly run away with the series. Time will tell for certain, but UK is giving off more positive vibes than it ever has that a programmatic turn-around is a season or two away. Why should UofL walk away from a potential competitor, who is beatable, with SEC membership?
Another important factor to continue the series is recruiting. UK and UofL recruit many of the same players in Kentucky, Ohio, and throughout the South. UofL is no doubt confident it can continue to beat UK, so continuing the series is in their interest in order to wave UK's scalp in front of coveted recruits. For UK, recruiting is also an important factor as UofL's newly minted ACC membership removes previous negative recruiting talking points.
The series is also fun! Not in an Internet trash talk way, but in a real-life interacting with human beings-type of way. I doubt my experience is unique: when UK plays UofL I watch it with my old friends who have both UK and UofL allegiances. Many of them have started their own families, have busy careers, and life has gotten too busy to be around each other as much as we'd like. Yet, this rivalry game brings us all together again, and for one afternoon it feels like we're all 25 year-old roommates once again busting each other's chops and consuming too many calories. While the rivalry may age some, it makes me feel young again.
The reality is UK and UofL have a symbiotic relationship. Playing each other doesn't prevent scheduling other quality non-conference teams nor preclude success upon doing so. Our constitutions shouldn't be so fragile that we let online idiocy or rare cases of public vehemence end the series. If our collective mettle can handle a UK-UofL Final Four without FEMA being called upon in the aftermath, we can surely handle anything else.
The universities have a mutual interest in continuing the series, and ending it would only hurt them both. Despite all the differences, neither fan base wants to do that to their own universities.