Same here, and Fargo is a pretty nice and fun city, believe it or not. (the city of Moorhead is an absolute dump except for the two college campuses).
The problem with going FBS is geography, plain and simple. Fargo is just so isolated from any FBS conference. The MWC would be the best fit, but the nearest school would be Colorado State. I suspect they'd be required to become a full member, which makes travel expensive for non-revenue sports. Of course they'd have to get an invite to a conference as well, and I've not heard of anyone even considering it.
UND (the hockey school in Grand Forks) struggled financially the few years they were in the Big Sky and a big part of that was travel costs, which is why they moved to the MVFC and Summit League. NDSU would have the same issues, and if the state didn't help UND financially in that respect, they aren't going to help NDSU.
Most of the other big football programs at that level have now moved up, or are in process of doing it. That will leave NDSU to continue to win titles because their real competition has left them behind.