Oregon State and Washington State provide few viewers and yet take an equal slice of the revenue.
The PAC is the weakest of the Power 4. It exists only because of its geography. However, the area is becoming more of a soccer audience than a football one. Moreover, participation in HS FB is dropping, hindering its talent pool.
On top of everything else, the governance could shut sports down on a whim. BYU presently has a BB player who went to LSU in fear of having SJSU being COVIDed to death.