Expanded playoff conferences don't matter, I'm not convinced playing ISU and Kansas and K-State and WVU is any better than UCF and Houston and Boise St. And in that case, it would suck to tie yourself to the B12 then be limited in other opportunities.
Unless the new B12 $$ = what it was with UT/OU (it won't), It doesn't make $$ sense to go (talking football only). BYU may make just as much Indy. And the CFP won't pay out to each P5 because those ties will be gone.