People don't care about the conferences anywhere near as much as they used to. They're too big and unwieldy and the teams don't even play each within the conference anymore to determine who is the best. Some of the rivalries are gone. The regionality is gone. The bowls with all the history are gone. Conference championships have lost their luster. As you said they're just conglomerates at this point.
Unfortunately we'll need the money so joining one of the conglomerates is important until things change again. At some point in the future it will be about brands...Ohio State football, Duke basketball, Notre Dame football, Alabama football, UConn men's basketball, Texas football, Kentucky basketball, Kansas basketball, UConn women's basketball.