I don't think it would be a good investment for Little Rock to maintain a fancy stadium for two games a year. The university has already built a stadium and it's a waste for it to go unused while the team plays at a neutral site. Little Rock isn't very likely to get a NFL team and I doubt there's a small college in the area that needs to play in a big stadium.
Cities in Florida (Jacksonville, Orlando, Tampa) did this same thing. Whenever anyone did an economic analysis it never made financial sense to build a stadium unless it had a regular tenant that would fill the stadium but that never stopped those cities from building. The Florida A&M-Bethune Cookman game in Jacksonville or University of Tampa games at Tampa stadium didn't draw enough fans to support a big fancy stadium.