We differ on the amount of money the P5 conferences would be worth as a stand alone entity away from the NCAA. For starters, amateur designation is a huge consideration. The NCAA model of amateurism is already hanging by a thread, if only because big time revenue generating college athletics was nowhere near the money maker in 1906 as it is now. Lower tier pro athletes had to take second off-season jobs as recently as the 1970's to supplement to the point of a viable living.
If the P5 can not maintain an amateur status without the NCAA, they instantaneously fall behind the NCAA in terms of benefits they are able to offer. They also instantaneously begin competing with the non-NFL upstarts for market share. We just saw how a sub-NFL stand alone was able to "accomplish" without competition. The NFL crushed them by merely doing nothing to help. In basketball, they will compete with the NCAA and G league. Not only for market share, but players as well.
Second, none of 1) the number of teams (65), 2) number of players (85 per team in FB alone, 3/4 of whom would have no shot of moving higher), nor 3) total benefit (Cost of attendance + living wage) would be sustainable. Academics are already a paper thin facade for high level programs. If the P5 breaks away, they remove all doubt. Why would they continue paying the freight for "pro" athletes for comparatively little in return?
I'd give it about 5 years if that came to pass and I'm starting to come around to what
@freescooter wrote above. I have enjoyed everything my alma mater has allowed me to do and observe over the last 2+decades, but I don't know if I wouldn't mind the system getting hit with a "Fat Man (maybe
just a "Little Boy," but still...)."