Aside from the apathy issues you mention, P12 has a serious geographic issue. There are no schools left west of the Rockies that change their TV footprint, so they are capped already from a revenue standpoint. They potentially risk falling way behind the rest of the P5 in terms of $$$ because of their limited footprint and limited national interest outside USC, Oregon and maybe UW (although not as much recently for UW, they were much more of a 90s power under James). Few outside the West Coast will tune in late at night to watch OSUvsASU type games compared to the other conferences. The games are just on too late. There are several yawner P5 games in the other conferences, but they are on in the afternoon when people are watching football across the country, and the conferences have much larger geographic footprints that gets more eyeballs on the TV. P12 has to really bank on 3-4 of their programs being nationally relevant (top 10ish) to be able to negotiate the TV deals needed to keep up with the rest of the P5. If the P12 can't break out of their geographic footprint, life could get rough for them going forward.