Honestly, three major conferences make more sense for the health of college football than two, even if the third is weaker than the top two.
I agree.
I also think if the top leftovers can think long term about things, or even just the AZ, ASU, CU types, it is best if that 3rd super conference forms ASAP. If it is close to a step-change, that's 20-24 schools that everyone for decades as associated as top level, and a lot of schools that do just as well as most P2s.
If the networks have their way, and the 3 conferences remain but weak or back filling after losing their top brands, the p5 luster and notion of equality goes away quickly
Look at how quickly the perception of the Big 12 is already so awful after OUT, despite it being for years 3rd or better in performance in both sports, and having new blood that was in CFP or CFP contention.
Even fans of schools in the weaker conference now talk about how big the divide is, even though it is basically only 3 schools that matter that changed, and only one of those has been an actual power recently.
Get a Big 18 or 20 on NBC with ND game before or after, then also a game on CBS replacing SEC, and it will be much better than feared. Ideally ESPN would be then forced to spend money to appease the P2 hopefuls in ACC before they just fight their way out, and would wash their hands of the 14 year commitment on the ACC leftovers, agreeing to let them go to Big 12. That's actually cheaper for ESPN than trying to pay ACC at close to P2, or move schools to SEC and then have to subsidize the rest for 14 years in the American (plus leftovers would not agree). The issue is that ACCN would be lost, where as ESPN could make money on that if it owns the 3rd conference (which they should be trying to setup with Big 12)