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No, it doesn’t. There is a reason the Harlem Globetrotters tour with the Washington Generals. Michigan isn’t Michigan without guaranteed wins against the Indianas and Northwesterns of the world. If you have a conference without deadbeats, then good teams struggle to finish above .500 and no one cares about them any more.
And the collaboration is based on more than sports. A lot of research and the $$$ come into play.