If the MAC played its semi-finals and finals on Sunday and Monday night, the crowds would be very, very small.
This is an excellent comment, and absolutely vital to this discussion. Remember how empty MAC football stadiums are during the week for televised games? It's tough for these small conferences. You want to be on national tv, but the only slots available are during the week.
I follow the MAAC due my wife's association with Loyola U, and have been to many games. They routinely sell out, but it only seats 3,000. The MAAC only averages about 2K per game as it is, then expects those fans bases to travel to Springfield, Mass, from locations as far away as Buffalo and Baltimore on a Monday night to watch their team. They do try hard to promote the tourney all season long, but there's still only so many fans you can get, and only so much local interest in Marist vs Fairfield.
Like someone posted earlier, it seems to make more sense to have it at a campus site like the Horizon League does. I understand the arenas (I use that term loosely) are small in a conferences like the MAAC, but at least it would be a sellout and a good atmosphere. The neutral sites also suffer when surprise teams (like Manhattan vs Iona) make the finals. It would also make the regular season so much more meaningful for conferences with only one bid.