to say they are on a different level, I don't think anyone would argue. Their whole mission is different from most p5 schools.
Compared to the other conferences, the Pac compares very favorably in talent and head to head competition. Over the past 10 years, the pac completely dominates the ACC head to head and has a winning record vs the Big 10. While it has a losing record vs. the Big 12, based on the NFL draft, the Pac 12 has a lot more talent--the Big 12 is easily the worst conference among the P5 at getting players drafted (the Pac 12 is second).
Yes, the big 10 makes more money, but a lot of that is a function of how recent their deal was consummated. The Pac has the oldest agreement of any conference. When the Pac signed their agreement, it was the richest of any conference. They will probably get a bump in a couple years when it gets negotiated again.
So to say that the Pac is in a class below the ACC, Big 10, or Big 12 is just dumb.