This is correct.
We'll see if the Texas vs. ATM game ends up being worth much after the first few match-ups. Historically, it wasn't a big ratings draw.
This may be true in your experience, but the historic data doesn't support the notion that the game had national relevance. The ratings were never really a boon and it was usually relegated to a tertiary sports topic for that week at the national media level. Mostly, to Tex Pete's point, because ATM was almost always irrelevant.
When ATM actually did win, they were cheating their asses off and got banned from TV, which led to us playing Baylor for a few years on Thanksgiving, to even lower ratings, and then the game getting moved to Black Friday morning.
Look, it's certainly a popular narrative at the national level that this is a great rivalry that needs to be revived. They're forgetting their own past where they largely ignored it. Maybe the national interest and regional fervor for SEC football match-ups and the sheer size of Texas' brand these days leads to this game being a much bigger thing in the future, but I doubt it. My doubt for it is simple - ATM will fuck it up. They always do. In this case, all they have to do is keep being their mediocre, weird selves.
On the Texas end, it's not like Texas hasn't actively tried to destroy its brand and fanbase via 12+ years of mostly abject failure, yet it seems like we simply cannot. The opposite is true for the aggies, and that's probably enough to ultimately anchor the game to a status between that of the USC-Notre Dame match-up (every other year) and Egg Bowl that weekend. Every time they seem to be vaguely relevant beyond the wall of College Station, they pull the bookshelf back onto themselves and either go back to being a laughingstock or complete national irrelevance, due to them just doing their usual cultish weird shit or due to sticking to their historic baseline on the field, or both.