Understanding markets. This is a new market. To think it can't exist means no new markets can.
Markets exist on what the market can bear, period. Its not a matter of if, its a matter of how much, and thats going to include teams that don't bring in the market share too, but is healthy for the overall market.
Take the Pac, great example. Being all west coast it was assumed it was top tier. But it was mainly a what have you done for me lately fad and their ratings showed that. They couldn't compete partly because of time zones, butts in seats and viewership.
They thought they were all that but they simply weren't. This caused the haves who have marketshare to bail. Same for Clemson and FSU in the new bigger ACC with the additions of those former Pac schools even.
Had the ACC gotten Oregon, Washington , USC and UCLA they likely would have created a market that was competitively stable.