Look at all of these channels for college football:
ESPN, ESPN 2, ESPNU, ESPNNews, Fox Sports 1, Fox Sports 2, NBC Sports Network, CBS Sports Network, Big 10 Network, Pac12 Network, SEC Network, Regional Sports Nets, ABC, CBS, NBC, Fox.
That's 16+ possible outlets on a given Saturday. Forget Regional Sports Nets for a second. There are 16 potential cable + over the air outlets for college football any given week and there are a potential for ~32 P5 games per week, not including bye weeks which works out to 2 P5 games per outlet per week. There is massive overcapacity in sports cable nets, and we have new entrants like Twitter, Amazon, Apple,... so there is demand for the G5 games. And, the channels are going to have to have content to maintain their pricing to customers. Are people going to pay $7/month for ESPN if your favorite teams are never on the network or if the media companies degrade the content? That is why I never understood why ESPN trashed Big East football as they should have been marketing it to build demand as they need content.
It will be interesting how this all plays out, but ESPN locked in expensive content at a time when distribution is changing.