You're losing a lot of fan bases and losing a lot of viewers. You're also fracturing what was college football, which is why people watch. I guess if you think you can survive with your 2 conference fanbases and a few others then go for it.If you had Super Conferences of the Big Ten and SEC, consisting of what they have had picked from the ACC/Big 12, you’re going to have most every region and every fan base that matters.
You lose the northeast, but the northeast isn’t driving college football ratings anyway. If anything you might actually gain viewers due to those professional sports populations tuning in to see the heavyweight, professional-like match ups.
The PAC 12 probably sticks around as a little brother if for no other reason than geographic. They are so isolated it’s difficult to pick off the schools and fold the conference.
So you have the SEC and Big Ten at the head of the table, and PAC 12 at least at the table.
There’s going to be a lot of fan bases left out, but probably not fan bases with such large numbers that it has an impact. That’s the entire reason why they weren’t invited to begin with.