I disagree ... please provide an example of a traditional rivalry game that would be eliminated?
The current rivalry games - Minnesota/Wisconsin, Michigan/tOSU, Texas/Oklahoma, Auburn/Alabama, Georgia/Florida would all continue. These are your opinions of rivalry games. Because Nebraska doesn't have an instate rivalry game with a non-P5 school you don't understand it. But to some schools......Northern Iowa/Iowa State. There are many other schools out there that play annual regional match up games that aren't P5 matchups.
I believe that Army, Navy and Air Force could somehow get into that group of 64. There are presently 64 teams in P5 and we need to add BYU and Notre Dame. Who do you propose kicking out of present P5 schools to let the academies in and why should they get in before Cincinnati, Memphis, UCF, USF, Boise State or any number of schools that have higher attendance averages.
TV money is settled currently by conference ... and in my view would remain there. NU's TV money is currently going to Maryland and Indiana and Rutgers BTW. Also I could conceive of a scenario where the P5 conferences (for football) form their own governing commission in lieu of the NCAA to handle all things football. Why would they separate from the NCAA? They created the NCAA to regulate them. The NCAA is not the enemy of these schools. They represent the governing body of these schools.