You are way too deep into the weeds of this particular agreement. Obviously some things would be different for a nationally recognized league the Big East.
Fox for linear, but a DTC streaming solution together with a local network could build up a subscriber base over time. Fox needs the content, and their market reach is shrinking. Seems like a good situation for the Big East.
I don't disagree, but what would the cut look like?
Right now, we have sliver of FOX, majority FS1, and a sprinkling of FS2. If FOX wanted to bolster their own streaming service, how much would we need to make games on that work? Assuming 100% of the FS2 (and CBSSN bought) games would move, how much of the FS1 ones would?
In theory, you could come up with a multiplier, and work it out that way. 1 FS2 game is probably worth 3 FS1 games, ratings-wise. FOX would be something like 15x. Total guesses here, but you could see how this would be thought out.
For a quaint comparison - here is some commentary from the original 2013 deal:
The Big East's impressive new TV deal