Utah would not be in the Pac-12 and BYU would probably be in a conference with the following schools:
TCU
Utah
Boise State
Kansas
Kansas State
Iowa State
Missouri
Baylor
Other left-overs
What has really hurt BYU badly is Utah getting the P12 invite.
If BYU had that B12 offer, I don't understand BYU being so demanding and not joining. If the Big 12 crumbled, it's still no worse than Indy. I especially don't understand it after Tom Holmoe has said that had the Pac-16 happened, BYU would've been in a good position.