I think the issue is they, along with several other schools in the Big 12, refused to sign waivers saying they wouldn't sue, not that they were going to sue. In that instance, I don't blame them.
Last year, the TV contract was up. A&M knew the LHN was to become a reality and they knew the terms of the new TV deal and they agreed to all of them, making a commitment to remain in the Big 12. A&M is the one that is going back on their word, not the rest of the instituions. They've managed to make Baylor look like the bad guys, but who could blame Baylor? Baylor made commitments to coaching staff based on expected money from the Big 12's new deals... without the Big 12, they stand to put themselves in a really tight spot. As I understand it, Baylor receives no state funding for athletics or academics.
Everyone knows Baylor is getting left out in the cold if all these schools split. In that sense, they're essentially asking Baylor to sign off on its own execution. In this situation, Baylor is doing the exact same thing A&M is doing: protecting their best interests. And yet somehow they're the villain? Come on.
Also, all this poor A&M stuff about the LHN is fetid tripe. A&M knew about the network and had the opportunity to be a part of it. They said no. OU is considering their own network as well. This is the direction of college football, for better or worse, and ESPN chose UT to start it.