The real question is whether, when told that Big Ten/Pac Ten/SEC revenues are going to go down with renewals, the Michigans and 'Bamas and USCs say "o.k." Or whether they do the one thing left to drive per team revenues up, which is to either (i) form their own national mega conference, or (ii) threaten to do so to get the Vandys and Northwesterns and Wash States to take less than a pro rata share.
I agree if the paradigm shift takes hold, content (thus ratings) become paramount. In that scenario the weak players in the P-5 have to accept less than their more highly "rated" or "valuable"conference mates. But if that is going to happen, I think their will be an effort for a total re-shuffling of the deck in P-5 and the dregs of each P-5 conference will necessarily be second class citizens or left out completely. Trouble is that with GOR's in place it's going to be hard to dislodge some weak players for a long time.