I've always hated we call it "realignment."
Like you're moving from the NFL West to the NFL South out of scheduling convenience.
Going from the Pac-12 to the Big Ten isn't "realignment."
It's joining an entirely different league (even if that league has some common rulesets, games, and notionally a combined championship with some other rival leagues) most importantly with its own TV contract.
The Jacksonville Jaguars aren't making any more money if they realign to the NFL East with some big-name draws for the TV contract like the Cowboys, Eagles, and whatever we call the DC team.
But if Florida St. ends up in the SEC then everything changes for them.
College Football Asset Consolidation combined with some corporate restructuring/mass layoffs (Oregon State, WSU) probably makes more sense but doesn't roll off the tongue.