In the past the theory was that the conference is greater than the sum of its parts. I think that is still true with the right combinations so even a lesser program could increase the value of the conference.
The SEC should take UNC, UVA, Arizona, Kansas
The Big 12 should take Clemson, FSU, NC State, Va Tech. Also Georgia Tech and Louisville or UConn to replace Arizona and Kansas
Then the SEC and Big 12 would have cross-state rivals who would play every year. Those regular rivalries during rivalry week would draw even more interest despite the fact they're not in the same conference. Has the potential that both conference champions could be from the same state. That's some bragging rights. B1G is locked out of the south. ACC becomes AAC 2.0 or folds.
UNC - NC State
UVA - Va Tech
USC - Clemson
Florida - Florida State
Arizona - Arizona State
Kansas - Kansas State
Oklahoma - Oklahoma State
Georgia - Georgia Tech
Kentucky - Louisville
Texas, TAMU - Texas Tech, Baylor, TCU
Take it further
Trade Miss State for WVU