they lose all their regional appeal. the people i know in big 10 country can't stand the idea of maryland and rutgers. utah and colorado look like losers in the PAC...geez, the only thing the utes do is promote the PAC, even more than they promote themselves.
i do think the future is still in each individual school having it's own network that's able to cater to it's fans. the costs and ability to micronize content will be what people want. i hated the mtn going on and on about all the other schools in the conference that i couldn't care less about and then having their games on TV while shutting my team out from being able to broadcast their game.
this thing is far from over...the sands can shift again just as quickly again as they have over the past decade. remember the southwest conference? that wasn't that long ago...but to a team like TCU, that was 4 conferences back.