I agree with your general premise that values are changeable. But value to the TV folks isn't predominately based on W/L's, but viewership and access to highly populated markets.
So while the Huskers might be an average football team, they still draw eyeballs. Could be the NASCAR effect, fans love to see them crash. But in a small population state, is that sustainable?
Then there is a school like Arizona State. They have been horrible in football, but maybe their coach stays and builds that program to be a perennial Big12 power. Phoenix is the 10th largest MSA in the US at 5M people- and growing. Could ASU be attractive to the Big10 in 2030 as an AAU school, large population base and west coast compliment to their current 4 PT zone schools?