I think you're taking things a bit literally - Baker's plan is the beginning of what may become some sort of "super league" or "premier league" of CFB - it is almost certainly going to create a new hierarchy in CFB - who knows what final shape this all takes - but this is clearly the beginning of the end of CFB as we know it - this could end up with teams decoupling from schools altogether, who knows?
Correct re: relegation (I assume that's what you mean by "regulation") - this will not be a Euro-style relegation situation - I think I was clear I was using "relegation" as a descriptive term to imply that the schools/teams will be split at some point & teams like Iowa State will be "relegated" to a lower tier - I do however believe "expansion" will be a possibility
Yes, eyeballs is what will be the main driving factor - big brands on national television
Re: conferences & the NCAA - who knows? - I think the SEC & B10 will drive the split, or teams in those conferences - in the end, who knows if these conferences stay separate, merge or become a whole new entity - will the NCAA be involved? - this plan from Baker is the first step in keeping the NCAA involved, but in all seriousness, no one is going to need the NCAA - we hardly need it now - as I said in the beginning, the NCAA is just trying to stay relevant