Even though Rich Rodriguez has said before that he would not be in favor of doing "The Drive", which is essentially the Pac-12 Networks version of HBO's "Hard Knocks", it seems that the Arizona Wildcats had everything lined up to be the college version of Hard Knocks on HBO before the Pac-12 stepped in, per Greg Hansen.
I think we all agree that taking part in this would have been great exposure for the program, and would allow fans, and more importantly recruits, an inside look at how Arizona functions on a day-to-day basis. But as Avi Kunnath at Pacific Takes points out, there are obvious reasons why the Pac-12 didn't let this happen.
The Pac-12 is built upon revenue sharing and equal exposure, and if Arizona had gone through with this, there's no doubt that every other school would have seen this as an unfair advantage. This isn't like Notre Dame, who has their own TV deal with NBC, and has a Hard Knocks-like show coming, because Notre Dame is independent, and doesn't have to share revenue or exposure with other conference members.
It's nice to sit here and think about the potential of an Arizona-based Hard Knocks, but in reality, there's no way this was going to happen unless every school in the conference was guaranteed exposure through the deal.