They may be in a solid place because they exist to some degree on a geographic island. But in college football money is a big measuring stick and we'll find out how solid the Pac12 is when they announce their next TV deal.
Being mostly in the Pacific time zone that serves as a positive and a negative. Its a negative because a lot of Americans who live in the Central & Eastern time zones don't stay up to watch games that kick-off 7pm PT or later.
But it also protects their schools from being picked off in realignment by SEC, ACC and Big10.
Not saying Pac12 schools won't be the target of Big10, SEC or Big12- but I think to get the coastal schools a conference would need to take 6-8 current Pac12 schools. I just don't see USC, Oregon, UCLA or Stanford wanting to play a few games a year against current Pac12 schools and then 6+ games against Southern or Midwest schools.
IMO they are fine to exist on their island as long as they get a Playoff berth.