It made sense. BC needed a QB and the one-year success of Tyler Murphy was a great selling point. Then there was the Addazio-Meyer connection. BC doesn't run the same exact offense at the Buckeyes, but there are plenty of similarities. BC's current QBs were young and could wait behind Miller. I heard the talk too, but I don't think it ever got far. And now it all makes sense because Miller is staying at OSU and converting to H-Back.
In reading about Miller's decision, I think the reason he didn't transfer is that he couldn't have played QB for anyone. He still has labrum issues and won't be able to throw completely for two more months. A transfer can't be that effective if he cannot practice with his new team. By playing this hybrid position at Ohio State, he can learn routes and practice catching balls. He can also prepare to be an NFL receiver.
It would have been nice to have a healthy 5th year superstar transfer, but I am excited about Wade. He might not be as dynamic as Miller, but now we can hope for multiple very good seasons instead of another stopgap. (At least that is what I am telling myself.)