I'm sure more games means more money, but I seldom watch the First 4 games. Why would Iwatch the First 12 games.
Also not sure why the NCAA continues to minimize these games by classifying them as "play-in" games for the real tournament/main bracket.
I guess it also gives more P5 coaches, who finish around .500, a reason to complain they were unfairly fired after their team makes the NCAA Tournament.
I catch a few of the First 4 games, sometimes just parts of them, but I don't make a point to schedule the viewing, just sort of let it happen.
Many seasons, there are a couple of the First Four games that are exciting/close, but that can happen for any game any time throughout a season, with any matchup. It's basketball.
I don't know whether extra games add much money to the overall tournament cashflow, but I haven't seen stats for viewership & advertising, so I'm just guessing and could be way off.
Also, the fact an at-large First Four routinely advance at least a couple of rounds doesn't show the "value" of expansion. Upsets happen. (You didn't make reference to that aspect or some of these other details, just my separate observation, because you got me thinking).
Regarding play-in, actually NCAA officially calls it First Four, but fans often use "play-in" and some consider it not really in the tournament.
Regarding the coaches, I agree about that. I've seen quotes directly from coaches through the years about how missing the tournament is like some unfair career thing. Hey, try to win a few more of those 31-plus games before that, and you don't have to worry as much!