It depends on how big #1 and #2 get.
Let's say the B10 and SEC raid the ACC for 5-6 schools between them, and there's ~12 schools left.
- Does ESPN keep their current deal in place to help facilitate the raid? Is that enough to keep pace with the B12?
- Does the ACC backfill? If so, who do they pick up?
- If they don't backfill, what's the perception hit being a 12-school power conference when the other three have 16+ members?
- When their current deal is up (or if ESPN kills it), are they able to replace something on par with the B12? If not, they're quite likely to lose 4+ more schools.
IMO, this could end up looking a lot like the PAC's collapse. The only question if someone finds a way around the GOR, or if schools leave at the end of the deal like OUT and USCLA. There's no one to backfill with, offers for their new deal don't keep pace with the B12, and the schools that have the option to leave ultimately do just that.
Taking a $6M/year haircut is sub-optimal, but it allows the B12 to be well position compared the the ACC. The larger the conference, the more likely it is to be able to survive losing a few members, and a viable ACC could be a threat to poach from the B12.
When the PAC was still hanging on, some proposed taking SDSU, UNLV, SMU or others to prevent the PAC from expanding and hanging on. None of those schools really fixed the PAC's central problems, so it wasn't a good strategy. Taking all of the corner schools, even at a loss, was the same strategy, but positioning for when/if the ACC gets raided.