With a broad conference of ~20 schools that have healthy alumni and fan interest will create good partners and a good product that will bring in plenty of money to move forward. Leaving schools out creates an opportunity and incentive for a competing product that may one day create more instability.
I say take the Western schools of similar size and value and form the basis for a long term partnership. I have watched college football for a number of decades now. One thing is certain, it will change. Twenty years ago nobody could have imagined the mighty Pac12 could fall apart.