In general, I would agree the cups suck. However, if you are in financial difficulty, a cup run can save your job.
I'm not really in financial trouble with Albion Rovers in my 2nd season but we've just beaten Hearts on pens to get to play Rangers away in the QF's. I'd say that was a positive thing.
If I was going for promotion in the 3rd Div, it might not be so great but having won the league last season, I don't mind so much if it means we lose a few league games.
It might mean we can't challenge for the title but I doubt we have enough quality to go up anyway. It's probably best that we have a season to consolidate and build a better squad. There's very little chance of relegation so I'm happy to have a cup run, hopefully generating a large wad of cash. This should help me improve the squad for next season.
I'll let you know how it affects our league position, finances and chances of improving the squad when I finally get round to producing an update.