I think that having multiple teams credibly capable of being included in a 12 team playoff will be important if that's the direction the sport decides to go. You don't want to be a one bid league if every bid is worth $40 million to the conferences.
Imagine ISU gets one slot in this hypothetical playoff and the SEC gets four. ISU's cut from the Big 12, assuming 10 teams, is $4 million. Vanderbilt's would be $10 million for sucking hind tit and being the conference whipping boy. And let's face it, Big 12 teams will need that playoff money because our TV deal will be static at best. The 12 team playoff is why OU and UT will leave even though they risk their big dog status.
If it is an 8 team playoff, ISU might get $3-3.5M for their cut, but if conferences get a max of 2 teams in it, a 16 team SEC might only receive $3.75-4.3M after the split. Much more equitable, but it removes much of the advantages of consolidating the top brands into one super conference built to suck up all the tv dollars out there.