I don't think this is nearly as far fetched as you guys are making it out to be. When you step back from the situation and look at each interest involved it actually makes some sense.
ESPN doesn't' want to lose the AAC which they own for pennies on the dollar and neither FOX or ESPN want to shell out nearly a billion to add 4 schools to the Big 12.
When yo look at what the Big 12 wants adding schools isn't' really the priority, adding a CCG, increasing payouts, and increasing the chances a Big 12 schools gets in the playoff, are the goals they are after. This actually accomplished most of what they are after.
The Big 12 could easily decide that this accomplishes what they are after in the short term and this will allow them to monitor the landscape the next few years before they decide to let BYU and UConn join as full members and move forward with some sort of a conference network when these t-3 deals come to an end. Grab the 2 most valuable brands out there while not having to deal with the travel issues and other challenges BYU presents.
It's fun to say that Texas and OU are going to leave everyone behind but when you think about what that would actually take to happen it becomes apparent that them leaving is very unlikely for many reasons. Texas is quite happy with it's current situation and has no reason to go elsewhere. OU hs show to be unhappy but if 2/3 borens demands are met with a long term plan for a network OU really has no reason to leave either. Those fans who think OU is going to announce they are leaving the conference without a major show to follow aren't' being realistic as nothing similar has ever happened in realignment.