Baylor should still be the favorite but I'll be shocked if they don't suffer through new coaching pains and I wont be surprised if they fall from grace (and fall fast). Any time someone replaces a legend with a brand new staff and most of the original roster in tact, it almost never goes smoothly.
Baylor also has numerous shortcomings. The roster only has 9 players and zero post depth for Egbo, besides Kendra Gillispie who is 6-2 and was the #58 recruit in the country. They have 4 solid transfer guards coming in, plus Sarah Andrews and Caitlin Bickle...and that's the entire roster. Nicki Collen is also a pretty weak hire with mediocre results as a head coach and no experience with a high level college basketball program. Fortunately for Baylor, they have one of the best players in the country in Nalyssa Smith back and enough talent that they should still win the Big 12, but I see Vic taking control of the Big 12 after this year with a talented young roster. Baylor is in a dangerous spot after this season, as the only have 5 likely returnees for 2022-23, and only have 1 recruit on board for the class of 2022.
Comparatively, Texas is setting up for a very nice future with a very good 2021 class, 3 other top 100 recruits for 2022, plus several good upperclassmen on their roster now. The Big 12 is in for some big changes in the near future.