It's way bigger than just this. You get a higher percentage of big games, yes. But if you cut out half or 1/3 of current P5, you lose a ton of fans that watch those games. I watch UT, OU games because of the conference ties. I watch SEC, BIG games when ISU is good because there are rankings, bowl, etc. implications. If ISU isn't even in the same division essentially, I have zero interest. And I think most people won't pick a new horse in the blue blood league, they'll just watch the NFL.This is where I think the blue bloods are wrong. They need teams to play. Because if they only play other blue bloods, you’ll have a lot of blue bloods going 6-6, 7-5 and even the top teams are going to lose games. And that happening over and over will lead to devaluing their blue blood brand.
Go look at the top teams and their schedules. They basically have to win 2-3 games per year against top competition. Do they really want to do that 12 times per year?
Everybody should keep in mind, trends for CFB aren't good. Attendance prior to COVID was down. ISU was one of the few that saw increases. Last year despite people being stuck in the house a lot, ratings were down 30% year over year. That is an incredible ratings tank. If a network sitcom had that kind of drop year over year it would get cancelled.
The networks and conferences better be careful. The idea you can throw any kind of CFB product out there is false. Not to mention, if the new CFB is concentrated enough to a few teams, that's not much inventory. All it would take is for the NFL to decide earlier in the season they will put a couple games per week on Saturdays and it would destroy college ratings. They better stay well differentiated from the NFL, and they better maintain broad interest, or they will fail.