it may not be feasible. I think the motivating factor for a new conference will be the rising P5 scholarships. If a group of the G5 are willing to keep up, then a new conference will come.
However, if two teams from the AAC leave to the B12, then the MWC with BYU is clearly the 6th best, and the most likely to get an auto bid to a future 8 game playoff.