I'll disagree. I think they're seriously exploring it. They may ultimately determine that it may be a losing effort and decide not to pursue it. That's probably the most likely outcome.
But to say that it's just "PR smoke" implies that they're basically doing a half-hearted "going through the motions" exploration of the issue.
Given the fact that ARod has become a very expensive liability, has alienated most Yankee fans, and also that the Steinbrenner's have mandated slashing payroll, a serious exploration of a void makes perfect sense in many ways. Even if it never comes close to fruition.