I wouldn't call it a loss leader. Loss leader implies you take a loss on a popular product with the hope that it brings a consumer in to spend money on other things that you make a profit on. WBB likely isn't bringing you in to spend money on other things. It's not popular enough.
I don't know about recent times but I did look it up about 4-5yrs ago and every athletic department lost money on WBB including UConn/Tenn. Their losses were the least, I think around 500K. RU was in the median of most schools IIRC.
Even though I'm not a big fan of the Olympic sports, I don't mind paying coaches premiums in the non revenue sports just within limits though. I think CVS was in the top 3 highest paid which is a little too much considering our AD's finances. It's been brought down recently. If we're going to participate in these sports, might as well try and compete and paying a competitive but not exorbitant salary is okay by me.