So here's a weird thought I haven't seen anywhere... Are there any lessons to be learned from when Vince McMahon consolidated the small/regional pro wrestling federations (i.e. conferences) into the national WWE (i.e. superconference/NFL-Lite/SEC)? I know they've kind of fractured again over the last few years.
There’s a lot that can be learned, although your take on it is kind of wrong. It’s not that WWE has fractured into all of these new organizations. What happened with WWE is when it became a publicly traded company, everything went to a “business first” approach, where since it now has shareholders it has to please (and not piss off), storylines have become somewhat “family friendly” (PG-era). What has resulted is in most cases lazy, unimaginative, recycled storylines that are turning more and more fans off, because essentially it’s the same stories they were telling last year or even 5 years ago. And while WWE continues to bring in record profits every year, it is also pushing away its audience as evidenced by TV ratings (in the case of Raw, worst ever ratings week after week),
Where the other promotions are coming in is hardcore fans who are fed up with WWE seeking out alternatives. It’s one of the reasons why AEW has been so successful coming out of the gate - giving the fans what they want in ways WWE refuses to give it to them.
So how does this relate to college football? The SEC is going after these huge fan bases in an attempt to maximize its profits, assuming that those on the outside looking in will fall in line and watch their product. And yes, the SEC will make a TON of money by doing this - but they’re also going to alienate the TON of fans they assume are just going to fall in line. This is why an alliance between FOX, the Big 10, the PAC 12, and the remaining Big 12 can be so important - because it has every opportunity to be the AEW to the WWE that is the SEC, ACC, and ESPN.