There will not be five 16-team conferences.
The Big Ten had 11 schools for years - now they have 14. The SEC has 14. The ACC has 14, plus a special scheduling deal and bowl affiliation with Notre Dame. The PAC has 12. The B12 has 10. The Big Ten, B12, and PAC play 9 conference games; the SEC and ACC play 8 conference games.
There is no indication that the conferences will align their structure or conference schedules. It would make things neat and tidy, but college football has never been neat and tidy.