You aren't alone in that view at all. I'm fact, you are likely in the majority. College football is more exciting and more entertaining when there are more programs able to compete.It doesn't make sense from that standpoint either.
The only reason I have ever cared about UT or Oklahoma games was because we were in the same conference. I care less, but still care, about teams from other conferences because they still exist on the same level of football. We may play them in the regular season, the postseason, or teams that we play may play them. That generates interest. A shared experience. We compete for the same things.
Almost all of that goes away if there is a super conference structure that cements that group (or groups) into a different plane of existence from where my team competes. I do not believe that I am anywhere near unique in that view.
But that isn't what the advertisers and media companies want. They don't want to worry about having 130 or 65 teams to manage, they only want the ones that give them the best return on their investment. They only want the ones with the biggest brands, the most fans, and the largest national appeal. They want the ones that will draw in advertising dollars, and will push away any that don't.
You are right, a whole lot of current college football fans are about to be left out, and left behind. But the advertisers and media networks either don't realize how many that could be and the impact that might have, or they don't care.