Based on the section above, I think PJ is right. It looks like the Pac 12 schools breached their own Bylaws when they left. WSU and OSU appear to be asserting that the other members gave notice of withdrawal in violation of the bylaws. The other schools having signed with another conference is a pretty good fact pattern for WSU and OSU. Unless there is something else to work with, they are probably getting their injunction, although their rights will be limited as the only two surviving members until the litigation is settled. The assets within the Pac 12, including the 23-24 media rights, NCAA units, and whatever cash was left in the bank (I saw one estimate of $20 million) appears to be on their way to Oregon State and Washington State, eventually.
There has to be more to this story. I have no doubt that several of the schools are run by idiots, but I can't see Stanford and Cal making a mistake this big. Getting cute with the withdrawal provisions was a really stupid move if that is what happened. They should have voted as a group to amend them before they went their separate ways.
If the schools are literally leaving like $250 to $300 million in total for Oregon State and Washington State, then turning down the Apple deal will turn into one of the stupidest decisions in the history of college sports.