I doubt this happens, but it would would all the sense in the world and have all the remaining G5 conferences and small independents form an alliance. The commissioners could sit down, divide conferences and teams based solely on geography (TV$ difference with biggest G5 brands going to B12 is going to be minimal) to help reduce costs for non football sports. It makes no sense at this point to have CUSA, AAC, and Sunbelt all having teams located right on top of each other while also having Temple vs Tulsa or SMU being in the same conference.
You can also do a scheduling partnership to get "premium" G5 matches like Memphis vs Boise St.
Then you could negotiate TV deals as a bloc. Getting the MAC, Mtn West, Sunbelt, AAC, and CUSA brings A LOT of content.
They're going to have to do something. Just continuing to gobble up smaller conferences a few teams at a time just doesn't make sense at this point.